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  • 17-01-21

    General Authority for Competition (GAC) imposes fine of USD800M on National Gas, Industrialization

    (MENAFN)The authority postd on twitter that the General Authority for Competition (GAC) forced on Jan. 14, a fine of SR3 million (USD800.000) on National Gas and Industrialization Co. (GASCO), as the company harmed its dominant position.

    GASCO forced special conditions on the purchase and sale transactions when dealing with another institution, in a manner that set it in a weaker position in comparison to other competitors, declared GAC.

    The gas producer also declined to deal with another entity without explanation to limit its admission to the market.

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