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EU Commission drops opposition to Norwegian gas regulations

The EU Commisson has dropped its opposition to the way Norwegian producers of natural gas are marketing the gas, Aftenposten reports. EU earlier said that the work of Norwegian Gas Board (GFU) was in conflict with EU's free trade regulations. EU's arguments could in the worst case have resulted in the cancellations of long term contracts worth NOK 1200 billion, in addition to fines to the companies totalling NOK 50 billion, the paper writes.