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Finnish Firm Sues Gazprom Subsidiary

Finnish Firm Sues Gazprom SubsidiaryFinnish Firm Sues Gazprom Subsidiary

Finland’s Gasum Oy has demanded through court Russia’s Gazprom lower the price of gas being supplied to Finland.

Gasum Oy dispatched a complaint to this effect to Gazprom in the middle of June. The document contains notification that a lawsuit had been filed with the Stockholm court of arbitration, Tass reported.

The Russian gas company is involved in similar litigations with Denmark’s Dong Naturgas, Poland’s PGNiG and Germany’s E.ON.

According to Gazprom’s statistics, Gasum demands "revising the price of natural gas being supplied to Finland, changing the gas price formula, lowering the take-or-pay level of annual contractual liabilities to a level equivalent to the overall amount of natural gas that can be in circulation on the Finnish market in accordance with the price a court of arbitration will set."

Gazprom’s affiliate Gazprom Export, which the complaints are targeted against, is to select its arbiter within 30 days.

Gasum Oy is 75% government-owned. Gazprom, having a 25% stake in the company, said last December it might quit Gasum Oy’s charter capital. The issue has remained unsettled so far.

 

Financialtribune.com