Gazprom Exec Wary Of E.U. Energy Policy

Law360, New York (January 22, 2007, 12:00 AM EST) -- The European Union’s plan to cut oil and gas imports with the implementation of a new energy policy has drawn the criticism of Russia’s Gazprom, which has cautioned E.U. officials against jeopardizing long-term contracts.

Gazprom CEO Alexander Medvedev spoke out on Saturday against abandoning long-term contracts in favor of short-term trading, invoking the spectacular collapse of Enron and warning that the fate of “speculatively oriented entities” is “known to all.”

Speaking to reporters in Gelsenkirchen, in northwestern Germany, Medevedev also said he supported the right of...
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