Gazprom to quit supplying the largest Dutch gas trader – DutchReview

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The Russian gas company Gazprom will stop supplying gas to the Dutch company Gasterra as of today.

Gasterra is the largest gas trader in the Netherlands, owned by Shell, Esso Nederland, and the Dutch government.

Payment disagreements

Russian President Putin drew up a decree that requires companies to pay for the gas in rubles, which Gasterra does not want to comply with for two reasons.

First, paying in rubles would violate the EU’s sanctions against Russia. Second, the Dutch company would have to open bank accounts in Moscow which is too risky as the accounts would fall under Russian law.

Gasterra will not receive any gas from May 31, 2022, until September 30, 2022, but intends to purchase gas elsewhere.

“No consequences for Dutch households”

Minister of Climate and Energy, Rob Jetten, says he understands Gasterra’s decision to not comply with the payment demands. According to Jetten, their decision will not affect Dutch households.

Jetten also does not expect any effect on the company. He says the cabinet will continue to monitor the situation closely.

Filling gas reserves

A spokesperson for Gasterra said they are continuing to fill the gas reserves “according to plan.”

The company did not disclose the annual volume of gas Gazprom supplies to them nor the amount of gas they will lose when Gazprom stops its supply.

The spokesperson said Gasterra planned to end their activities with Gazprom and their contract will not be renewed.

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