Ukraine "rushes" to buy gas from the EU; Finland is about to "ban" Russian LNG

Recently, the Ukrainian gas transmission system operator LLC announced data showing that in 2023, the country imported 4.3 billion cubic meters of natural gas from the European Union (EU) and Moldova.

Ukraine to double gas imports from EU and Moldova in 2023. (Source: Getty Images)

According to LLC, the figure is more than double Ukraine's imports in 2022, and most of the gas is stored in the country's underground storage facilities.

Most of Ukraine's gas imports come from Slovakia, with more than 1.8 billion cubic meters, or 42% of total imports. Meanwhile, Hungary supplies 1.3 billion cubic meters (31% of imports), Poland supplies 602 million cubic meters (14%) and Romania via Moldova 550 million cubic meters (13%).

According to LLC's report, in 2023, Ukraine also imported more than 550 million cubic meters of gas via the Trans-Balkan Corridor, mainly for storage.

* In an interview with Finnish newspaper Helsingin Sanomat on January 5, Finnish Minister of Environment and Climate Kai Mykkanen said that the ban on Russian liquefied natural gas (LNG) will come into effect in 2025. Helsinki plans to develop a legal framework this year, thereby creating the necessary framework to apply the embargo.

“Although no specific date has been set, we expect to be able to completely ban imported gas from Russia from 2025,” he stressed.

Finland's state-owned energy company Gasum still receives LNG from Russia under the terms of its current contract, but gas flows to the Nordic country have been significantly reduced since the conflict in Ukraine began in February 2022.

Until now, imports of Russian LNG have been banned at Finland's largest terminal, Inkoo, located on the southern coast.

Previously, the Nordic country imported hundreds of millions of euros worth of Russian pipeline gas every month, as opposed to buying Russian super-chilled fuel on a relatively small scale.

Russia cut off pipeline gas supplies to Finland in May 2022 after Gasum refused to pay for gas in rubles.

The EU has not imposed sanctions on Russian LNG. Pipeline gas imports to Europe have fallen sharply, but EU countries have bought record amounts of Russian LNG in 2023.

Source: https://baoquocte.vn/ukraine-ao-at-mua-khi-dot-tu-eu-phan-lan-sap-cam-cua-lng-cua-nga-256573.html