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Gasum halts Russian LNG purchases

"Gasum complies with all sanctions imposed by the EU and has accordingly ceased all purchases of Russian LNG," the company said

MOSCOW, July 29. /TASS/. Gasum stopped buying liquefied natural gas (LNG) from Russia since July 26 as intended, the Finnish energy company said.

"Sanctions issued by the EU on June 24 prohibit the purchase or import of liquified natural gas originating from Russia through European Union terminals that are not connected to the EU gas network. The prohibition has come into force on July 26, which means that Gasum will no longer import LNG from Russia," the company informed.

"Gasum complies with all sanctions imposed by the EU and has accordingly ceased all purchases of Russian LNG," it added.

The company has a long-term LNG supply contract with Gazprom Export on "take or pay" conditions, meaning payments for a certain gas volume irrespective of its receipt. "The sanctions adopted by the EU do not allow Gasum to terminate its agreement with Gazprom Export but constitute a force majeure on the purchase or import of Russian LNG to off-grid terminals," the Finnish company said.

Gasum is at the same time buying LNG from different sources, including the Risavika plant in Norway and via terminals in Central Europe.

On June 24, the EU approved the 14th package of anti-Russian sanctions. It includes the ban on purchases or imports of LNG from Russia via EU terminals not connected to the EU gas network.

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