Russia’s Gazprom cuts off gas to the Netherlands

Partly-state owned energy firm GasTerra has estimated approximately two billion cubic metres of contracted gas will not be delivered

Big Zero Report 2022

Partly state-owned energy company GasTerra has said Gazprom will discontinue gas supply from today onwards.

The wholesaler of natural gas and green gas had previously declined to pay for the Russian gas in roubles.

On 31st March, Russia’s President Vladimir Putin signed a decree saying foreign buyers of Russian gas must pay in roubles from 1st April.

GasTerra explained the reasons it rejected Gazprom’s payment demands.

It said: “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 for the Groningen company.”

The company has added the halting of supply by Gazprom means that, between now and 1st October, the date on which its contract ends, approximately two billion cubic metres of contracted gas will not be delivered.

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