UPDATE - Gazprom Export halts gas supply to Ørsted, others

Source: gazprom.com

June 1 (Renewables Now) - Gazprom Export confirmed on Wednesday that it is completely suspending gas supplies to a unit of Danish clean energy group Ørsted A/S (CPH:ORSTED) because of its unwillingness to pay in Russian roubles.

In a statement preceding the halt, Ørsted reiterated it is under no obligation to change the currency in which it pays.

"At Ørsted, we stand firm in our refusal to pay in roubles, and we’ve been preparing for this scenario, so we still expect to be able to supply gas to our customers. The situation underpins the need of the EU becoming independent of Russian gas by accelerating the build-out of renewable energy," said Mads Nipper, Group President and CEO of Ørsted.

In response to international sanctions over its invasion of Ukraine, Russia has been demanding that “unfriendly” countries pay for gas supplies in roubles rather than in US dollars or euros.

In addition to Ørsted, Gazprom has now also completely suspended gas supplies to Netherlands’ GasTerra BV and Shell Energy Europe Limited in Germany.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription