Shipowner and trader Vitol has rejected accusations of gas market manipulation in France.
CoRDiS, the disciplinary tribunal of French energy regulation committee CRE, said it had fined the company EUR 5m ($5.75m) for breaching the country's energy code.
"Vitol rejects the findings of CoRDiS and will be appealing," Vitol said.
"Vitol maintains that its trading strategies were appropriate to physical energy markets and in accordance with the applicable market regulations, as confirmed by expert evidence.
