Gazprom Shuts Gas Deliveries to Dutch Trader
May 30 2022 - 12:22PM
Dow Jones News
By Jaime Llinares Taboada
Gazprom PJSC will stop supplying gas to Dutch wholesaler
GasTerra from Tuesday due to the latter's refusal to make payments
in rubles.
Gas trader GasTerra said Monday that it has decided not to
comply with Gazprom's payment requirements because doing so risks
breaching European Union sanctions. The cessation means that around
2 billion cubic meters of contracted gas won't be delivered between
now and Oct. 1, when the deal was due to end, it said.
"GasTerra has repeatedly urged Gazprom to respect the
contractually agreed payment structure and supply obligations, but
to no avail," the trading company said.
GasTerra warned that it is impossible to predict whether the
European market can absorb this loss of supply without serious
consequences.
In 2021 the EU imported 155 billion cubic meters of gas from
Russia, around 40% of its total gas consumption, according to the
International Energy Agency.
GasTerra is 50%-owned by the Dutch government--partially through
its gas company Energie Beheer Nederland B.V. The remaining
shareholding is owned by Shell PLC and Exxon Mobil Corp., with each
holding a 25% stake.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
May 30, 2022 13:07 ET (17:07 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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