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Court Orders Gasum To Pay €300mn to Gazprom

NATURAL GAS

A tribunal arbitration has ordered Gasum to pay Gazprom Export more than €300mn for gas supplies, Gazprom said on telegraph messenger.

  • The ruling is in connection with the failure to fulfil the “take or pay” obligation by Gasum, as well as interest for late payment.
  • The tribunal also recognized the publication of decree of the Russian President from 31 March on the transition to payment for gas in roubles as a force majeure circumstance under the contract.
  • The tribunal confirmed the legitimacy of the suspension of natural gas supplies if Gasum fails to pay in roubles in accordance with the decree. It was also ordered that the parties to continue negotiations on the contract.
Energy BulletsCommodities
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