Finland's Gasum continuing to import Russian LNG due to contract obligations to Gazprom - media

MOSCOW. March 21 (Interfax) - Finland's Gasum is continuing to buy LNG from Russia, Finish state broadcaster Yle has reported, citing a spokesperson for the energy company, who explained that this is due to contractual obligations to Gazprom .

Import of Russian LNG continues because Gasum signed a long-term contract with Gazprom Export prior to 2022 for supply of gas, which "will be valid for many years to come." The contract obliges the Finnish company to pay in any case [take-or-pay terms].

The gas purchased by Gasum arrives in Finland after being liquefied at Novatek's Cryogas-Vysotsk plant. Since 2019, the energy company has purchased LNG totaling more than 730 million euros, the broadcaster said.

Pipeline gas deliveries to Finland stopped a year ago after the country refused to accept the new settlement scheme with Gazprom. On May 21, Gazprom Export stopped supplying gas to Gasum.