Finland's Gasum Takes Natural Gas Supply Contract With Gazprom Export To Arbitration

Finnish state-owned energy company Gasum announced on Tuesday that it had filed for arbitration to settle disputes over its contract with Russia's Gazprom Export on natural gas supplies

HELSINKI (UrduPoint News / Sputnik - 17th May, 2022) Finnish state-owned energy company Gasum announced on Tuesday that it had filed for arbitration to settle disputes over its contract with Russia's Gazprom Export on natural gas supplies.

The Finnish company has a long-term gas supply contract with Gazprom Export, with the sides negotiating its details since last autumn.

In April, Gazprom Export required that Gasum make the payments agreed upon in the contract in rubles instead of Euros in the future. Later, Gazprom Export made other claims on Gasum regarding the contract. Gasum refused to accept the requirements.

"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 matter will be considered in arbitration," the company said in a statement.