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Gazprom bows to Brussels by holding first European gas auction

on Mon Sep 07, 2015 10:42 am
Gazprom has launched its first public auction for spot gas supplies in Europe, marking a concession to Brussels in a long-running battle over the shape of the European gas market.

For years, as the European Commission pushed for the creation of a freely-traded “spot” gas market, the Russian gas group defended its practice of signing long-term contracts linked to oil prices with something close to religious fervour.................

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