Russia Confirms Gas Supply Cut to Finland

On Friday, Russia's Gazprom Export reported that natural gas supplies to Finland would be interrupted from Saturday, May 21, as Finland's gas wholesaler Gasum has declined to pay in rubles, a request Russia has made to European countries. 

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A Gazprom Export statement said that "at the end of the business day on May 20 (the payment deadline stipulated by the contract), Gazprom Export did not receive payment from Gasum for gas supplies in April," adding that the company "notified Gasum of the suspension of gas supplies as of May 21, 2022, and until payment is made in accordance with the procedure established by the [presidential] decree."

Finnish state-owned gas wholesaler Gasum reported in a statement also released on Friday on Russia's move to cut off gas supplies if the country fails to pay for future supplies in rubles. In this line, Gasum said it does not plan to switch to a new gas payment system but instead intends to file an arbitration claim. 

Gazprom Export said it would defend its interests in the arbitration proceedings with the means at its disposal.

For his part, Gasum's CEO Mika Wiljanen said that "Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline," noting that the company's "gas filling stations in the gas network area will continue in normal operation."