Finland's Gasum says refuses to pay for Russian gas in rubles

HELSINKI, May 17 (PRIME) -- Finnish state energy company Gasum has not accepted Russia’s requirement to switch to ruble payments for gas and decided to go to arbitration, the company said in a statement on Tuesday.

"Gasum does not accept Gazprom Export's requirement to switch to ruble payments and will consequently not make payments in rubles or under Gazprom Export’s proposed payment arrangement,” the company said.

Gasum and Gazprom Export have been in negotiations about the contract terms since autumn 2021, the Finnish company said. In April, Gazprom Export sent it a letter and asked it to switch to payments in rubles instead of euros agreed in the supply contract, as well as made other claims on the company regarding the contract.

“Overall, this is something that Gasum cannot accept and has decided to take the disputes regarding the supply contract to arbitration in accordance with the contract,” the company said.

Gasum also said that there is a significant risk of discontinuation of Russian gas supplies to Finland. It has been preparing for such a situation and working to ensure availability of gas for its customers through the Balticconnector gas pipeline during the summer season.

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