REG-Ørsted A/S Gazprom Export will halt the supply of gas to Ørsted

Oersted A/SAnnouncement

31/05/2022 16:15

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   Ørsted A/S (Orsted)
   Gazprom Export will halt the supply of gas to Ørsted

   31-May-2022 / 17:00 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   31.5.2022 16:59:49 CEST | Ørsted A/S | Investor News

   On 31 May, Gazprom Export has informed Ørsted that the company will halt
   the supply of gas to Ørsted on 1 June 2022 at 6:00 CEST. Thus, Gazprom
   Export does not live up to the agreement to supply gas to Ørsted. Gazprom
   Export has maintained its demand that Ørsted pay for gas supplies in
   roubles. Ørsted is under no obligation to do so under the contract, and
   the company will continue to pay in euros.

   Mads Nipper, Group President and CEO of Ørsted, says:

   "At Ørsted, we stand firm in our refusal to pay in roubles, and we’ve been
   preparing for this scenario, so we still expect to be able to supply gas
   to our customers. The situation underpins the need of the EU becoming
   independent of Russian gas by accelerating the build-out of renewable
   energy."

   Since there is no gas pipeline going directly from Russia to Denmark,
   Russia will not be able to directly cut off the gas supplies to Denmark,
   and it will thus still be possible for Denmark to get gas. However, this
   means that the gas for Denmark must, to a larger extent, be purchased on
   the European gas market. We expect this to be possible.

   At Ørsted, we are in ongoing dialogue with the authorities, and we trust
   that the authorities, who have the overall overview of the supply
   situation in Denmark, are prepared for the situation. Ørsted will remain
   in close dialogue with the authorities regarding the situation.

   Media Relations
   Carsten Birkeland Kjær
   + 45 99 55 77 65
    1 cabkj@orsted.com

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 ir@orsted.com 

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi). Ørsted ranks as the world’s most
   sustainable energy company in Corporate Knights' 2022 index of the Global
   100 most sustainable corporations in the world and is recognised on the
   CDP Climate Change A List as a global leader on climate action.
   Headquartered in Denmark, Ørsted employs 7,016 people. Ørsted's shares are
   listed on Nasdaq Copenhagen (Orsted). In 2021, the group's revenue was DKK
   77.7 billion (EUR 10.4 billion). Visit  3 orsted.com or follow us on
   Facebook, LinkedIn, Instagram, and Twitter.

       Attachments

     •  4 Gazprom Export will halt the supply of gas to Ørsted.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  165305
   EQS News ID:   1365443


    
   End of Announcement EQS News Service

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References

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