Can you hear me? The invisible battles of Ukrainian military medics

Watch documentary now
Skip to content
Edit post

Finland's Gasum to cease Russian LNG imports in compliance with EU sanctions

by Olena Goncharova June 26, 2024 1:58 AM 2 min read
Illustrative image: A worker standing on the uploading dock of Cavaou LNG terminal in Fos-sur-Mer, France, on June 22, 2023. (Clement Mahoudeau/AFP via Getty Images)
This audio is created with AI assistance

Finland's Gasum, a major gas supplier to the Nordic region, announced on June 25 that it will cease purchasing and importing Russian liquefied natural gas (LNG) in July in accordance with new European Union sanctions.

"Gasum complies with all sanctions imposed by the EU and will not purchase or import Russian LNG as of 26 July," the company said in a statement.

On June 24, EU member nations adopted a 14th package of sanctions against Russia, targeting the country's gas exports for the first time. The new package also forbids any new investments or provision of goods toward Russian LNG projects, such as the Arctic LNG 2 and Murmansk LNG.

Although other LNG sanctions in the EU's latest package will not take effect until next year, the clause affecting Finland and Sweden is effective from July 26.

"The sanctions adopted by the EU do not allow Gasum to terminate its agreement with Gazprom Export but constitute a force majeure on the purchase or import of Russian LNG to off-grid terminals," Gasum said.

The company has a long-term LNG supply contract with Gazprom Export, established before 2022, under a take-or-pay agreement. This agreement obligates Gasum to pay for the contracted gas regardless of whether it uses it.

The geographical distribution and nature of Finnish gas imports have changed significantly. Russian pipeline gas has been replaced by Western LNG. Russian pipeline gas has been replaced by Western LNG. According to the country's foreign trade statistics, 65% of gas imports in the last quarter of 2023 came from the United States, 23% from Norway, and 7% from Russia.

Riku Huttunen, who heads the Energy Department of the Ministry of Economic Affairs and Employment, said that the government is currently forming a working group to prepare a comprehensive ban on Russian gas imports, with a legislative proposal expected next winter.

Ukraine war latest: Russia increases use of chemical weapons on battlefield, Kyiv says
Key developments on June 24: * Ukraine reports increase in Russian chemical weapons attacks on battlefield * Zelensky dismisses Lieutenant General accused by soldiers of heavy losses * Russian saboteurs likely behind arson attack on German factory, security officials tell WSJ * EU Council annou…

News Feed

12:55 PM

Ukraine downs 161 of 287 Russian missiles, drones in mass aerial attack.

Moscow deployed four Kinzhal air-launched missiles, two Iskander-M ballistic missiles, one Kh-23 North Korean ballistic missile, 55 Kh-101 and Kh-55SM cruise missiles launched from Tu-95MS bomber planes, 24 sea-launched Kalibr missiles, seven Iskander-K cruise missiles, and one Kh-59/69 missile, the Air Force said.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.