Finnish Gasum terminated the gas supply contract with Gazprom Export – May 22, 2023
Finnish state energy company Gasum terminated a long-term pipeline gas supply contract with Gazprom Export. This is stated in her statement, published on May 22. The company claims that it has not received gas under this contract since May last year, as it refused to pay for it in rubles.
Gasum reported that in April 2022, Gazprom Export demanded that gas supplies be paid in rubles. The company did not agree with this and some other requirements regarding the execution of the contract and applied to the arbitration court.
Last November, he decided that Gasum was not obliged to pay either in rubles or in accordance with the payment procedure proposed by Gazprom Export. The court ordered the parties to find a way to resolve the conflict within a certain time, but they failed to reach an agreement.
“Negotiations between Gasum and Gazprom Export have ended. The parties failed to resolve the situation within the time limit set by the arbitration court, in connection with which, on May 22, 2023, Gasum terminated the long-term contract for the supply of natural gas with Gazprom Export LLC,” the Finnish company announced.
She notes that pipeline gas supplies from Russia have not been carried out since May 2022. At the same time, the long-term contract with Gazprom Export for the supply of liquefied natural gas (LNG) continues to operate.
A couple of months ago, representatives of Gasum declaredthat they will buy gas from Russia “for many years to come”, since the long-term contract concluded until 2022 will continue to be valid until 2031. The Finnish state-owned company claims that they import the minimum amount of LNG, which is stipulated by the contract.