HELSINKI, May 22 (PRIME) -- Finland's Gasum has terminated a long-term contract with Russian gas giant Gazprom for gas supplies, Gasum said in a statement on Monday.
"The negotiations between Gasum and Gazprom Export have now ended. The parties were not able to resolve the situation within the period defined by the arbitral tribunal and therefore, Gasum has terminated the long-term natural gas supply contract with Gazprom Export on May 22, 2023," the company said.
According to Gasum, the company refused to pay for gas in rubles as demanded by Gazprom in April 2022 and sent a claim against the demand to the Arbitration Institute of the Stockholm Chamber of Commerce. The court ruled that Gasum is not obliged to pay in rubles in the framework of the deal and ordered the sides to continue the negotiations.
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