- (PLX AI) - Ørsted updates investors on the company's exposure to gas contract with Gazprom Export.
- • Ørsted Gazprom contract will not be extended; it expires in 2030 and cannot be terminated at this point, the company says
- • Under the contract, Ørsted receives approximately 20 TWh of gas per year. Ørsted will offtake the minimum yearly volume of gas under the contract
- • Says imports of gas cover a substantial part of Danish and European gas consumption, and therefore, it will have severe societal consequences if Europe experiences shortfalls in gas supplies
- • Ørsted reducing the overall hedge level related to the Gazprom Export contract
- • Ørsted will not enter into new contracts with Russian companies
- • Ørsted does not change financial outlook for the 2022 financial year
- • Ørsted will donate all net profits (if any) after hedges and tax related to the Gazprom Export contract to humanitarian aid in Ukraine
© 2022 PLX AI
