EC wants access to Gazprom's contracts with European companies

In an effort to enhance cooperation on the energy market, the European Commission (EC) is seeking to study the contracts between Russia and European companies with regard to gas supplies.  In the future, contracts longer than one year should be automatically disclosed to the EC if they are critical for ensuring gas supply to the European Union (EU).  

This legislative initiative was proposed by officials in Brussels on the 16th of February.  The European Energy Commissioner, Miguel Arias Canete, has said that this initiative does not apply to the private sector contracts and does not include price control.  However, according to Reuters, this proposal could encounter resistance from some EU countries. It could also be used by others to counter the Russian pipeline project.

The EC seeks to ensure that the pipeline project across the Baltic Sea is in compliance with European legislation.  Even though the German government has said that the construction of the second pipeline is purely economic and not political, Eastern European countries have harshly criticized the project.

Meanwhile, the EU has set a goal to reduce dependence on the Russian gas monopoly, Gazprom.  This is why the EC would like to check the conditions of gas supply.

According to Gazprom data, the shares of the supply of Gazprom in Europe had increased by 31% in 2015.

  EU, Russia, Nord Stream - 2