UPDATE - Gazprom Export halts gas supply to Ørsted, others

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.

Gazprom completely suspends gas supplies to Denmark’s Orsted Salg & Service A/S due to failure to pay in rubleshttps://t.co/6xJVbt0o8Y

— Gazprom (@GazpromEN) June 1, 2022

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