The company said there was no indications of problems with supply due to the Ukraine crisis, adding that it was not fully reliant on Russian gas for supply.

Russian gas represents around half of all gas purchased by Geoplin, while its other suppliers are not reliant on Russia. It added that it also had reserves with which it could provide for stable supply in case of disruptions.

Its comments come as gas futures climbed nearly 10% in early trading on international markets on Monday in response to the crisis, as traders expressed concern about stability of supply of Russian gas.

Around half of Russian gas delivered to Europe passes through Ukraine.

However, Geoplin highlighted that, due to new pipelines, such as North Stream, which carries gas through the Baltic to Europe, Ukraine was no longer as important in transporting Russian gas as in the past.

The company also echoed statements of other European gas suppliers today in pointing to a mild winter, which appeared to be coming to an end, in suggesting that demand was below peak.