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Denmark's Orsted Faces Gas Payment Deadline with Russia

ENERGY

Denmark’s largest energy compnay Orsted is at risk of having its gas supplies cut off by Russia as they continue to refuse payments in roubles according to a company statement out today.

  • Gazprom Export is still demanding that the gas supplies are paid for in roubles but Orsted said they have no legal obligation under the terms of the contract to do so. The payment deadline is 31 May and Orsted will only pay in Euro’s.
  • Russian gas comes to Denmark via pipelines through other countries making Russia unable to directly cut off flows but may cause a rise in shortfalls towards Europe.
  • Orsted has been filling up storage in Germany and Denmark to try and alleviate any short-term issues related to gas shortages. The company supports Denmark’s and the EU’s ambition to fully cut ties with Russian gas in the future.
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