Gazprom avoids EU fines
Multinational In March 2017, the Russian gas giant offered a series of concessions in the seven-year antitrust case, which the European Commission at the time said eased its concerns. A fine could have amounted to up to 10% of the company’s global turnover.
The news also came as Gazprom Neft, the company’s oil arm, struck a deal to develop several oilfields in Siberia with the UAE’s Mubadala Petroleum. Gazprom Neft will hold a 51% stake in the JV, which will operate the fields in the Tomsk and Omsk regions, while Mubadala will hold 44% and Russia’s sovereign wealth fund will own the remaining 5%.
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