AIRLINK 189.36 Increased By ▲ 1.33 (0.71%)
BOP 11.10 Decreased By ▼ -0.76 (-6.41%)
CNERGY 7.28 Decreased By ▼ -0.26 (-3.45%)
FCCL 36.65 Decreased By ▼ -1.14 (-3.02%)
FFL 14.95 Decreased By ▼ -0.29 (-1.9%)
FLYNG 26.19 Increased By ▲ 0.66 (2.59%)
HUBC 130.89 Increased By ▲ 0.74 (0.57%)
HUMNL 13.47 Decreased By ▼ -0.14 (-1.03%)
KEL 4.28 Decreased By ▼ -0.07 (-1.61%)
KOSM 6.08 Decreased By ▼ -0.09 (-1.46%)
MLCF 45.94 Increased By ▲ 0.26 (0.57%)
OGDC 201.86 Decreased By ▼ -4.57 (-2.21%)
PACE 6.12 Decreased By ▼ -0.26 (-4.08%)
PAEL 38.36 Decreased By ▼ -1.95 (-4.84%)
PIAHCLA 16.73 Decreased By ▼ -0.22 (-1.3%)
PIBTL 7.94 Decreased By ▼ -0.09 (-1.12%)
POWER 9.86 Decreased By ▼ -0.17 (-1.69%)
PPL 173.46 Decreased By ▼ -5.38 (-3.01%)
PRL 34.73 Decreased By ▼ -1.63 (-4.48%)
PTC 23.95 Decreased By ▼ -0.44 (-1.8%)
SEARL 101.74 Decreased By ▼ -1.42 (-1.38%)
SILK 1.07 No Change ▼ 0.00 (0%)
SSGC 32.70 Decreased By ▼ -3.54 (-9.77%)
SYM 17.93 Decreased By ▼ -0.30 (-1.65%)
TELE 8.14 Decreased By ▼ -0.24 (-2.86%)
TPLP 12.02 Decreased By ▼ -0.14 (-1.15%)
TRG 67.40 Increased By ▲ 0.07 (0.1%)
WAVESAPP 11.80 Decreased By ▼ -0.21 (-1.75%)
WTL 1.52 Decreased By ▼ -0.05 (-3.18%)
YOUW 3.90 Increased By ▲ 0.01 (0.26%)
BR100 11,819 Decreased By -87.9 (-0.74%)
BR30 35,000 Decreased By -554.1 (-1.56%)
KSE100 112,085 Decreased By -478.8 (-0.43%)
KSE30 34,946 Decreased By -148 (-0.42%)

BRUSSELS: EU antitrust investigators raided the German offices of Gazprom, sources said on Thursday, on suspicion the Russian state gas giant had illegally pushed up prices in Europe.

The European Commission said its teams carried out unannounced inspections on Tuesday “at the premises of several companies in Germany active in the supply, transmission and storage of natural gas”.

Two sources familiar with the matter said that a main target of the operation was Gazprom, which is accused of sparking an energy crunch in the European Union.

According to a report by Bloomberg, officials visited offices of companies that included the giant’s Gazprom Germania GmbH and Wingas GmbH, which supply about 20 percent of the German market.

The commission, the EU’s powerful antitrust authority, is looking into allegations that Gazprom squeezed its European clients by limiting supply, causing prices to skyrocket.

Ukraine in December filed a complaint to the EU against Gazprom, accusing it of creating “an artificial deficit of gas” to jack up prices.

“Gazprom’s actions are anti-competitive and have significant negative consequences for all European consumers,” Yuriy Vitrenko, head of Ukraine’s state energy company Naftogaz, said at the time.

Gazprom has a powerful hand over the EU, with Russia providing roughly 40 percent of its gas supply, mainly to Germany, Italy and a few eastern European countries.

The gas flow to the EU has become an object of discord in the war in Ukraine, with Kyiv urging the EU to cut off Russian supply to punish the Kremlin for its invasion.

Comments

Comments are closed.