Finland’s Natural Gas Imports from Russia Come to an End with EU Sanctions

The Council of the European Union member states has approved the 14th sanctions package against Russia, which includes prohibiting the import of Russian LNG into the EU territory to terminals not connected to the gas network. This decision will put an end to the import of Russian LNG to Finland. Up until now, Finland’s state-owned company Gasum has been importing LNG from Russia under a long-term contract with Gazprom, despite the ongoing war in Ukraine. However, due to EU sanctions, Gasum is now facing significant obstacles in buying or importing Russian LNG to terminals not connected to the gas network.

Gasum announced that it will fully comply with EU sanctions and stop buying and importing Russian LNG to Finland from July 26th. As a result, Finnish companies Outokumpu and SSAB will no longer have access to LNG imports from Russia through Pori and Tornio terminals. The pipeline gas procurement contract was terminated last year following Finland’s refusal to pay for gas in rubles instead of euros following the invasion of Ukraine by Russia. Despite this setback, Gasum remains committed to finding alternative sources of natural gas for its customers in Finland.