Sergey Kondratiev, Principal Director on Economic Studies of the Institute for Energy and Finance, commented to the Kommersant newspaper on LNG supplies to Finland.
According to Kommersant's information, the Finnish Gasum has not been taking its LNG cargoes from NOVATEK's Cryogas-Vysotsk project in the Baltic for a month now. Since May 2022, the Finnish company has refused pipeline gas from Russia, but continued to receive LNG from Vysotsk under a contract with Gazprom Export (it is a gas export agent under an agreement with NOVATEK). The parties do not comment on the reasons for the termination of Gasum supplies.
Finnish companies, along with companies from Sweden and Belgium, are the "anchor" importers for the terminal in Vysotsk, Sergey Kondratiev notes. According to him, the cessation of imports from Russia now will not create difficulties for Finland.
“With weak demand and declining natural gas prices in the EU, Finnish companies can find the volume they need on the open market, even though Russia is a key LNG supplier,” he says.
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