Russia could cut gas supplies to Finland on Friday – newspaper

Russia could cut gas supplies to Finland on Friday – newspaper

A model of the natural gas pipeline is seen in front of the displayed colors of the Finnish and Russian flags in this April 26, 2022 illustration. REUTERS/Dado Ruvic/Illustration/File Photo

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HELSINKI, May 12 (Reuters) – Key Finnish politicians have been warned that Russia could halt gas supplies to neighboring Finland on Friday, local newspaper Iltalehti reported on Thursday, citing unnamed sources.

The paper did not specify where the warning might have come from, and Reuters was unable to verify the information.

Finland’s President Sauli Niinisto and Prime Minister Sanna Marin on Thursday said Finland would apply to join western defense alliance NATO “immediately”, prompting Russia to promise a response. Continue reading

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Most of the gas consumed in Finland comes from Russia, but gas accounts for only about 5% of the country’s annual energy consumption. Continue reading

However, losing most of the gas supply would mean that industry giants such as Neste (NESTE.HE) and Metsa (METSB.HE), as well as other companies in the forestry, chemical and food industries, would have to find alternative energy sources or adjust their production.

On May 5, the Finnish government said it was prepared that its eastern neighbor could shut off gas supplies at the end of May in response to Finland’s refusal to comply with Russian demands for gas payments in rubles. Continue reading

Direct pipeline connections with Russia make Finland and the Baltic countries more dependent on Russian gas than other European countries. If Russia’s gas supply is reduced or halted, Finland, Estonia, Latvia and Lithuania may have to cut demand, European gas network operator ENTSOG said in its summer outlook in April.

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Reporting by Anne Kauranen and Essi Lehto; Adaptation by Toby Chopra and Marguerita Choy

Our standards: The Thomson Reuters Trust Principles.

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