Russia could cut gas supply to Finland on Friday -newspaper (updated)

Metsa Board Oyj

12/05/2022 18:15

(Adds detail)
    HELSINKI, May 12 (Reuters) - Key Finnish politicians have
been warned that Russia could halt its gas supplies to
neighbouring Finland on Friday, local newspaper Iltalehti
reported on Thursday, citing unnamed sources.
    The paper did not specify where the warning would have come
from and Reuters was not able to verify the information.
    Finland's President Sauli Niinisto and Prime Minister Sanna
Marin on Thursday said Finland would apply to join the Western
defence alliance NATO "without delay", prompting Russia to vow a
response.  urn:newsml:reuters.com:*:nL3N2X34FS      
    The majority of gas used in Finland comes from Russia but
gas only accounts for some 5% of the country's annual energy
consumption.  urn:newsml:reuters.com:*:nL5N2WX3X0
    However losing most of the gas supply would mean industry
giants like Neste  NESTE.HE  and Metsa  METSB.HE  and also other
companies in forestry, chemical and food industries would need
to find alternative energy sources or adapt their production. 
    On May 5, the Finnish government said it was prepared for
the possibility of its eastern neighbour cutting off gas
delivery in late May as a response to Finland's refusal to abide
by Russian demands for gas payments to be made in roubles.
 urn:newsml:reuters.com:*:nL5N2WX3X0
    With direct pipeline connections with Russia, Finland and
the Baltics are more reliant on Russian gas than other European
countries. If Russian gas supply is reduced or cut, Finland,
Estonia, Latvia and Lithuania might have to curtail demand,
European gas operator network ENTSOG said in their summer
outlook in April. 

 (Reporting by Anne Kauranen and Essi Lehto; Editing by Toby
Chopra and Marguerita Choy)
 ((anne.kauranen@thomsonreuters.com; +358401895560;))