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Russia stops gas supplies to Netherlands

May 31, 2022
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Russia stops gas supplies to Netherlands

Russia stops gas supplies to Netherlands

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Russia stops gas supplies to the Netherlands

The state-owned Dutch energy company GasTerra has not made a payment in rubles, according to the Russian Gazprom.

The Netherlands became the fourth country to stop buying Russian natural gas after deciding not to pay for supplies in rubles. Russia’s energy giant Gazprom announced on Tuesday that its “Gas deliveries completely stopped“ to the Dutch state-owned energy wholesaler GasTerra.

“By the close of business on May 30, Gazprom Export had not received any payment from GasTerra BV for gas deliveries in April‘ the Russian company said in a statement.

GasTerra previously said it was taking action to make up for the gas shortage.

“Gazprom’s suspension of supply means that by October 1, 2022, the date of the contract’s end, about 2 billion cubic meters of the contracted gas will not be supplied. GasTerra has anticipated this by buying gas elsewhere‘ the Dutch company said in a statement.

At the end of April, Gazprom suspended gas exports to Bulgaria and Poland, and Finland was cut off from electricity in May. Denmark is also facing a supply freeze after rejecting Russia’s demand to pay for the ruble.

Moscow’s new payment system requires gas buyers from “unfriendly” countries that have imposed sanctions on Russia to open accounts with Gazprombank. They can then deposit money in the currency of their choice, which the bank will convert into rubles and transfer to the supplier.

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Tags: gasGasTerraGazprom ExportNetherlandsnewsRussiaRussian Gazprom
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