Gazprom denies EU 'cartel' charge |
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Thu, 25 Jan 2007 20:03
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DAVOS, Switzerland (AFX) - Gazprom deputy chairman Alexander Medvedev has hit back at EU claims the group was attempting to create a gas cartel with Algeria to control supplies to Europe.Medvedev, speaking on the sidelines of the World Economic Forum here, said recent talks between Gazprom and Algerian state-owned energy group Sonatrach were merely aimed at increasing mutual cooperation.'It's an absolutely normal business discussion, which could potentially bring cooperation in different areas of the energy sector,' he said.'It is based not on the assumption of a cartel-type arrangement, but based on pure commercial motivation.'It is the same as energy companies like Exxon and Shell discussing their joint ventures,' he said.Asked if the intention was to control prices, he replied: 'No, it is not possible to control prices in the gas industry due to the structure of the gas market.'On Wednesday, European Energy Commissioner Andris Piebalgs had told a conference in Berlin that if Russia and Algeria agreed to cooperate in the production and distribution of gas to Europe 'they could create a kind of cartel'.'The context of these meetings between Russia and Algeria makes us nervous,' the International Herald Tribune reported him as saying in its Thursday edition.'We, Europe, are their biggest customers. We want to have a fair price. This is not only about commercial interests. It is about tranparency,' Piebalgs added.newsdesk@afxnews.comafp/cmrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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