Finnish company Gasum will not pay for gas in rubles and will resort to arbitration

The Finnish state energy company Gasum has said it will not pay for Russian gas in rubles at Gazprom's request, as it violates the agreement. In addition, the company intends to turn to international arbitration over the fact that Gazprom violates the terms of the agreement between the companies.

According to the company, Gasum also has a number of other claims against Gazprom in the contract. Therefore, the company will resort to arbitration.

The company notes that Gazprom is likely to cut off Russian gas supplies to Finland because Gasum refuses to pay in rubles. At the same time, Gasum together with partners and government agencies are ready for such a scenario. During the summer season, Gasum intends to increase natural gas supplies from other sources through the Balticconnector.

"In this situation, Gasum had no choice but to submit the contract to arbitration. In this difficult situation, we will do everything possible to provide our Finnish customers with the necessary energy,” said Gasum President Mika Villanen.

14:25 / 17 May 2022

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