03 October 2012

LITHUANIA / RUSSIA / SWEDEN / EU : Vilnius Will Sue Gazprom For $1.9 Billion In Overcharges.


       Frustrated over little action by Gazprom regarding alleged past nat gas overcharges... Vilnius says it will take its case to a Swedish arbitration court...seeking $1.9 billion.
      Its price for nat gas from Gazprom exploded...from $84 per 1,000 cubic meters in 2004...to $497 in 2012!
       The Swedish court has also heard German and Polish cases against Gazprom...that forced Gazprom to make price concessions.
        Gazprom's past pricing practices are also being probed by the EU...for possibly 'abusing its dominant position.'