Russia could stop gas supplies to Finland on Friday

A model of the natural gas pipeline can be seen for the displayed colors of the Finnish and Russian flags in this image, taken April 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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

The newspaper did not specify where the warning would have come from and Reuters was unable to verify the information.

Finnish President Sauli Niinisto and Prime Minister Sanna Marin said on Thursday that Finland would like to join the Western defense alliance “without delay”, prompting Russia to vow a response. read more

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

However, the loss of most of the gas supply would mean that industrial 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 seek alternative energy sources or increase their production. To adjust.

On May 5, the Finnish government said it was prepared for the possibility that its eastern neighbor would cut gas supplies at the end of May in response to Finland’s refusal to comply with Russia’s requirement to make gas payments in rubles. read more

With direct pipeline connections to Russia, Finland and the Baltic states are more dependent on Russian gas than other European countries. If Russia’s gas supply is cut or reduced, Finland, Estonia, Latvia and Lithuania may have to curb demand, the European network of gas companies ENTSOG said in their summer outlook in April.

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

Our Standards: The Thomson Reuters Trust Principles.

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