Energy Minister Sergei Shmatko told an energy conference Monday that Russia and the European Commission failed to reach an understanding on the EU's third energy package, a set of energy market rules requiring gas suppliers to divest pipeline infrastructure.
Gazprom opposes the so-called "unbundling" rules, seeking to build its presence in gas distribution and marketing. "Talks with the European Commission on the third energy package … hit a dead end," Shmatko said, adding that the talks failed to take adequate account of Russia's interests as a major energy supplier.
"What does this mean? Nothing terrible," Shmatko added. "All obligations the Russian Federation and Russian companies have taken on with regard to supplies of energy under long-term contracts will without doubt be fulfilled."