Russia Cuts Off Natural Gas to Finland, Which Then Inks Alternate LNG Deal
Russia will no longer provide natural gas supplies to Finland following its refusal to pay for the fuel in rubles. Natural gas flows from the main pipeline will end May 21, according to a filing from Finnish importer Gasum. Gasum said it will supply natural gas from other sources through the Balticconnector pipeline. Finland joins Poland and Bulgaria in the ranks of countries that have seen Russia turn off access to its natural gas.
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Russian natural gas accounts for about 5% of Finland's energy mix and is mainly used by factories, Bloomberg reported May 20. To compensate for the dip in supplies, Finnish state-owned natural gas distributor Gasgrid Finland Oy inked a 10-year deal with Excelerate Energy to charter the use of a ship that stores liquefied natural gas and provides regasification services. The ship will be moved to Finland, Bloomberg said.