“It is very unfortunate that the supply of natural gas under our supply contract has now been interrupted,” said Gasum CEO Mika Wiljanen, adding that the company had “prepared carefully for this situation. “.
Finland formally announced its intention to join NATO on Sunday, abandoning decades of neutrality and ignoring Russian threats of possible retaliation in a bid to bolster its security following the start of the war in Ukraine.
Russian gas giant Gazprom did not immediately respond to CNN Business when asked for comment.
Finland depended on Russia for almost 68% of its natural gas consumption in 2020, according to the International Energy Agency.
But Russia’s gas exports make up just 3% of the Nordic nation’s total energy mix – which includes energy produced from biofuels and nuclear sources – according to data from Eurostat and the European Network of Energy Managers. gas transport network.
Wiljanen said Gasum “will be able to supply all [of its] customers with gas in the coming months” provided there are no disruptions to the gas transmission network, but added that the winter would be “difficult”.
Gasum Vice President Olga Väisänen told CNN on Friday that Finland also receives gas through its Baltic connection via Estonia. The pipeline connects Finland’s gas transmission network to that of Estonia and allows it to tap into underground storage in Latvia.
Since then, EU officials, national governments and energy companies have scrambled to determine whether the new payment mechanism violates sanctions against Russia.
But the European Commission insists that guidelines it issued last week prohibit buyers from opening a ruble account. European Commission chief spokesman Eric Mamer told a press briefing on Tuesday that such a move would violate sanctions.
“Anything beyond opening an account in the contract currency with Gazprombank and paying into that account, then issuing a statement that … you have finalized the payment, violates the sanctions “, did he declare.
Earlier this week, the EU announced it would spend 210 billion euros ($222 billion) to wean itself off Russian oil and gas.
— Robert North contributed reporting.