FAS terminated a case against “Gazprom Gazenergoset” JSC

On 1 March 2017 the Federal Antimonopoly Service (FAS Russia) terminated the proceedings against “Gazprom Gazenergoset” JSC due to absence of violations.

On 30 October 2016, FAS opened a case against the company upon signs of violating the antimonopoly law (Clauses 1 and 2 Part 1 Article 10 of the Federal Law “On Protection of Competition”): fixing and maintaining monopolistically high price for liquefied petroleum gas (LPG) and withdrawing the goods form circulation in May- September 2016”.

Head of FAS Department for Regulating Fuel-and-Energy Complex, Dmitry Makhonin said: “Investigating the case, we studied in detail the market of liquefied petroleum gases, analyzed prices on retail and wholesale markets, researched information form exchange sites, monitoring LPG prices and other presented materials , based on which we have not revealed that “Gazprom Gazenergoset” JSC committed violations”.

Deputy Head of FAS Anatoly Golomolzin pointed out that “in 2016 FAS approved a new trading policy of “Gazprom Gazenergoset” JSC regarding LPG sales. The company started LPG sales through the exchange regularly and uniformly”.

“Such corporate conduct has the most favourable effect upon the market”, emphasized Anatoly Golomolzin. “Since November 2016 wholesale LPG prices at exchange treading reduced by 28.71%, and by 30.72% in the off-exchange segment”.