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Finland: Arbitration proceedings against Gazprom for payment of gas in rubles

Finland’s state-owned energy supplier Gasum announced on Tuesday that it would refer its dispute over ruble payments with Russia’s Gazprom to arbitration.

Gasum has stated that it will not accept Gazprom’s demand to pay in rubles for gas supplies and that there is a risk that the flow to Finland will be cut off.

“Under these circumstances, Gasum had no choice but to resort to arbitration for the contract. In this difficult situation, we will do everything we can to be able to supply our Finnish customers with the energy they need. need “, stressed the CEO of Gasum, Mika Wiljanen.

Gasum said it would seek to supply natural gas to its Finnish customers in the summer via the BalticConnector pipeline, which connects the country and the Baltic gas networks through the Gulf of Finland.

However, restrictions on the pipeline’s carrying capacity could make this task difficult, he added.

In the long term, Finland plans to lease a floating terminal for the import of liquefied natural gas (LNG) with Estonia.

Finland imports most of its gas from Russia, but gas accounts for only 5% of its annual energy consumption.

Source: Capital

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