Latvian Latvijas Gāze is considering the possibility of paying for Russian gas in rubles, reported on the company’s website.
“The first impression is that such a settlement procedure – in Russian rubles – does not formally violate the sanctions regime and is possible,” the message says. Latvijas Gāze added that they are now analyzing the proposed settlement method “from a legal point of view and from the point of view of the business interests of the concern”
Chairman of the Board of Latvijas Gāze Aigars Kalvitis noted that the natural gas reserves in the storage facility are sufficient to fulfill the company’s obligations to consumers. “The decision not to pump gas through pipelines in April was made in light of the historically high prices for natural gas in April, which would have resulted in disproportionately high natural gas sales prices to our customers and would have made such offers uncompetitive,” he explained.
Latvijas Gāze signed a long-term gas supply agreement with Gazprom until 2030, which provides for payment in euros.
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