The state-owned company Gasum has been importing liquefied natural gas from Russia during the war in Ukraine, but imports will cease in July. The European Union approved new sanctions against Russia which include a prohibition on importing Russian LNG into terminals not connected to the gas network. This means that the import of Russian LNG to Finland’s Tornio and Pori terminals, which only serve local industry, will no longer be allowed. Ship-to-ship transfers of Russian LNG in EU ports are also now prohibited.
Russia had previously cut off pipeline gas supplies to Finland in May 2022. Gasum has continued to import LNG from Russia since the war began in February 2022. The company has been importing LNG to terminals in Pori and Tornio in Finland, as well as to Sweden and Norway. Gasum had a long-term procurement contract with Gazprom, the Russian state gas company, requiring minimum gas purchases. Gasum has been abiding by this contract, but will end LNG purchases from Gazprom in July due to the new sanctions.
Gasum’s director of communication and responsibility, Olga Vaisänen, stated that the company will comply with the sanctions and cease importing LNG from Russia. Gasum’s customers will not be affected as the company can supply gas from other sources, including Norway and Central Europe. Most of the LNG imported by Gasum has come from countries other than Russia. Vaisänen assured that gas delivery to customers will continue as usual even after the sanctions take effect.
In the realm of finance, core banking solutions are becoming increasingly important for operational efficiency, scalability, security, and customer experience. These solutions are evolving with the incorporation of AI, machine learning, real-time transactions, open banking, microservices, and blockchain technology. The future of core banking is focused on composable architectures, business continuity, risk management, and maximizing ROI. The intersection of core banking and payments is also shaping the future of banking services. CBD oil is another trending topic, with articles discussing how to choose the best CBD oil, its benefits for daily routines, and the differences between CBD oil and hemp oil.