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    The Finnish company Gasum terminated the gas contract with Gazprom Export

    May 22, 2023 - The Eastern Herald



      Gazprom Export has received a notification from the Finnish national energy company Gasum regarding the termination of the gas pipeline supply contract. This is stated in a press release from the Finnish company.

      During the negotiations, the parties having failed to find a common solution to the situation, Gasum terminated the long-term contact for the supply of natural gas. In April 2022, Gazprom Export demanded that payments, in accordance with the agreement, be made in rubles and not in euros. Gasum did not agree to this condition and referred the case to arbitration in Stockholm.

      In November 2022, it was reported that the Stockholm Arbitration Court recognized Russian President Vladimir Putin’s decree on switching to ruble gas payment as a force majeure contract, under which he ordered the Finnish company Gasum to pay Gazprom Export a debt of more than 300 million euros for the supply of gas.

      Read the Russia Ukraine News on The Eastern Herald.

      Copyright © 2023 The Eastern Herald.

      The views expressed in content distributed by Newstex and its re-distributors (collectively, "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex et al. It is provided as general information only on an "AS IS" basis, without warranties and conferring no rights, which should not be relied upon as professional advice. Newstex et al. make no claims, promises or guarantees regarding its accuracy or completeness, nor as to the quality of the opinions and commentary contained therein.


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