Dutch utility: Russian gas supplies will cease Tuesday

Dutch utility Gasterra has rejected demands for payment of Russian gas in rubles, entailing that supplies from Russia will cease Tuesday, the company informs.
The Netherlands may lose its supply of Russian gas Tuesday. | Photo: Peter Hove Olesen
The Netherlands may lose its supply of Russian gas Tuesday. | Photo: Peter Hove Olesen
BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Dutch utility Gasterra informs that Russia will halt gas supplies Tuesday after the company has refused to pay for gas in rubles much like other European utilities such as Danish Ørsted.

”This means that anyone wanting to buy gas would have to open both a euro and a rouble account with Gazprombank in Moscow. GasTerra will not go along with Gazprom’s payment demands,” writes Gasterra on its website Monday:

”This is because to do so would risk breaching sanctions imposed by the EU and also because there are too many financial and operational risks associated with the required payment route. In particular, opening accounts in Moscow under Russian law and their control by the Russian regime pose too great a risk.”

This means that Gasterra will not receive deliveries totaling approximately 2 billion m3 of contracted gas between now and October 1 when the contract was originally set to expire.

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