Finnish state-owned company Gasum has terminated its gas supply contract with Russian Gazprom
However, the long-term contract for the supply of liquefied natural gas remains in force
The state-owned Finnish gas company Gasum announced on Monday that it is terminating its contract with Gazprom for the purchase of natural gas that has been coming to Finland from Russia via a pipeline.
Source. This was reported by Reuters.
The Russian side stopped supplying natural gas to Gasum back in May 2022 due to disagreements over payment methods (Russia demanded payment in rubles), and since then the parties have been negotiating on this issue.
"Gazprom, for its part, confirmed the termination of the contract, Reuters reports.
In the spring of 2022, in accordance with Putin's decree, Gazprom began to demand that European companies pay for Russian gas exclusively in rubles, citing sanctions imposed on Russia. Finland categorically refused to pay in rubles.
In November, the arbitration court ruled that Gasum was not obliged to pay for gas in rubles, but ordered both parties to resolve the dispute through negotiations.
The parties failed to do so within the deadline set by the court, so, according to an official statement from the Finnish company, Gasum is terminating the long-term natural gas purchase contract.
This refers only to the supply of gas through the pipeline, while the long-term contract with Gazprom for the supply of liquefied natural gas remains in force.
Background. As reported, the European Union is demanding $17 billion from Gazprom for undelivered Russian gas.
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