Finland’s gas supplier terminates contract with Russian Gazprom

This is reported by Reuters.

It is noted that in May 2022, Gazprom stopped supplying natural gas through Gasum's pipelines. This was due to a dispute over payments. After that, the companies began negotiations to resolve the issue.

Gazprom demanded that European countries pay for gas in rubles due to the sanctions imposed by Russia's invasion of Ukraine. Finland refused to fulfil this condition. Thus, in November last year, an arbitration company ruled that Gasum was not obliged to make payments in rubles. At the same time, it ordered both parties to negotiate.

"The parties were not able to resolve the situation within the period defined by the arbitral tribunal and therefore, Gasum has terminated the long-term natural gas supply contract," the Finnish company said in a statement.

The statement also stressed that the termination applies exclusively to pipeline supplies.

"The long-term LNG supply contract Gasum has with Gazprom Export remains in place," the company said.