October 24, 2011 / 7:23 AM / in 6 years

UPDATE 1-Russia-EU energy talks hit dead end - minister

* No common understanding on third energy package

* Russia opposes “unbundling” of gas production, distribution

* Russia to remain stable supplier (Adds quotes, context)

MOSCOW, Oct 24 (Reuters) - Talks between Russia and the European Commission on energy market regulation in the European Union have hit a “dead end,” Russian Energy Minister Sergei Shmatko said on Monday.

Shmatko told an energy conference that Moscow and Brussels had 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.

Russia’s gas export monopoly Gazprom opposes the so-called “unbundling” rules. Gazprom, which supplies Europe with a quarter of its gas, has been seeking to build its presence in gas distribution and marketing.

“Talks with the European Commission on the third energy package ... have hit a dead end,” Shmatko said, adding that the talks had failed to take adequate account of Russia’s interests as a major energy supplier.

“What does this mean? Nothing terrible,” Shmatko added. “All the obligations that the Russian Federation and Russian companies have taken on with regard to supplies of energy under long-term contracts will without doubt be fulfilled.” (Reporting by Vladimir Soldatkin, Writing by Douglas Busvine; Editing by Lidia Kelly)

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