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Hot news from Gazprom! A key decision

Russian energy concern Gazprom has declared force majeure in gas supplies to Europe for at least one major customer. This was stated in a letter from the gas giant dated July 14, which was accessed by Reuters today, the news agency reported.

According to the letter, Gazprom, which is a monopoly in the export of Russian gas via pipelines, may not be able to meet its delivery obligations due to “extraordinary circumstances” beyond its control.

It said “force majeure”, a clause invoked when a company is affected by factors beyond its control, is in effect for deliveries from the June 14 date.

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