When Russia’s biggest wholesale electricity generation company signed a big supply deal with Novatek, an independent gas producer, the electricity company ran into a small hitch.
Gazprom, the state-run gas monopoly, refused to allow Novatek to pump the gas through its pipeline network, a move that nearly torpedoed the power company’s plans to build a new power plant until it agreed to buy gas from Gazprom at a much higher price.
