Gazprom ceases supplying GasTerra with effect from 31 May

GasTerra announced in a press release this afternoon that Gazprom will cease the supply of natural gas to GasTerra with effect from 31 May 2022. The reason for this is that, for various reasons, GasTerra does not want to comply with the decree of the Russian president Putin that Russian gas should henceforth be paid for in roubles. Stopping the supply by Gazprom means that until 1 October 2022, the date on which the contract between the two parties was due to expire, approximately 2 billion m3 of contracted gas will not be delivered. GasTerra has anticipated this by purchasing gas elsewhere. In a reaction, the Ministry of Economic Affairs and Climate Change states that this decision has no consequences for the physical delivery of gas to Dutch households. Physical deliveries of gas to the Dutch business sector are not expected to be affected either.