Net4Gas has not received the last monthly payments from its Russian partner
The operator of the Czech gas pipelines stated that the monthly payments they had not received from the Russian company were due on the basis of key contracts. Revenue from contracts with the Russian trader accounted for roughly three-quarters of its total revenue for 2021.
The company also recalled that the rating agency Fitch Ratings, in its communication from last October, in which it confirmed the current rating, stated that its default scenario already includes a complete or almost complete interruption of the operation of Russian gas pipelines to Europe and the absence of a board from the main customer. And non-payment is part of that scenario, Net4Gas added.
The server pointed out the problem of Net4Gas not receiving payment from Russia E15.cz and reminded that the only Russian exporter of gas to the European market is the state-controlled gas giant Gazprom. The Reuters agency late last year, citing Gazprom data and its own calculations, that Russian exports to Europe via gas pipelines fell to a post-Soviet minimum in 2022.
Europe is reeling from Russian gas imports after Moscow invaded Ukraine and one of the main gas pipelines was damaged by yet-to-be-explained explosions. Russia managed to compensate for lower gas imports to Europe with higher energy prices.