Commission presses on with Gazprom investigation despite refund

The European Commission will continue with their investigation into Gazprom despite the company refunding gas customers on the continent.

The Russian state-owned gas company is to refund 78bn roubles ($2.39bn) to gas customers on the continent, it has announced just days after the European commission started an investigation into its sales practices.

à‚  Gazprom supplies more than a quarter of Europe‘s gas consumption, and several EU states rely on the company for most of their needs, being locked into long-term contracts, in some cases of periods up to 30 years.

à‚  The refunds to eastern and central European buyers have not stopped the investigation by Brussels, which said it was concerned that the natural gas producer was abusing its dominant position.

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