Termination moods // Gazprom lost the first long-term contract with a European company
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Finnish Gasum was the first of Gazprom’s European counterparties to terminate a long-term gas supply contract through arbitration. Gazprom stopped pipeline deliveries to Finland a year ago, but the arbitration gave the parties time to settle their differences, which, however, did not happen. The Finns still retain the contract for the supply of LNG, although they have stopped taking cargo under it. Mass cancellation of contracts by other European buyers will not yet follow, analysts say, as Europe needs a safety net for the coming winter.
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