War in Ukraine: Russia cuts gas supply to Finland

Status: 20.05.2022 2:46 p.m.

Because Finland refuses to pay for Russian natural gas in rubles, Russia will stop delivering from Saturday. Finland reacts calmly.

From Saturday, Russia will no longer supply natural gas to Finland. Moscow had previously demanded that the neighboring country pay for the gas in rubles. Finland refused.

Finnish energy group Gasum has announced that it is very regrettable that contractually agreed deliveries are now suspended. However, there will be no supply issues as the company is ready for the stage. Gasum is a public company responsible for importing and distributing gas in Finland.

Indeed, Gasum announced a few days ago that there was an increased risk that the Russian energy giant Gazprom would suspend its natural gas supplies. Russia also stopped supplying electricity to Finland.

Finland bets on liquefied natural gas

Natural gas represents only 8% of the Finnish energy mix. However, Russia is by far Finland’s largest gas supplier. In the coming months, gas imports are to be secured via a gas pipeline from Estonia. In the longer term, Finland, like Germany, wants to replace most Russian gas with liquefied natural gas. A terminal for transport is already under construction and should be completed in October 2022.

On Wednesday, Finland and Sweden applied for NATO membership. Both countries want to join the military alliance under the impression of Russian aggression war against Ukraine. Russia criticized the effort as a serious mistake.

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