Finland Resumes LNG Imports From Russia

Finnish state-owned gas trader Gasum has resumed importing liquefied natural gas cargoes from the Kryogaz-Vysotsk LNG plant in Russia.
Gasum suspended LNG imports from the Novatek-operated export terminal in April 2023, Offshore Technology reported.
At the time, the company stated that its long-term export contract with Gazprom Export, a Gazprom subsidiary that manages exports from Kryogaz-Vysotsk, was still valid. 
However, since April 4, there has been no activity from Gasum’s tankers at the Vysotsk Port.
Nevertheless, on July 4, it was reported that data had shown Gasum’s LNG tanker, the Coral Energice, delivering LNG cargo to Finland via the port of Tornio.
In an email comment, a Gasum spokesperson stated: “I can confirm that we have picked up LNG from Vysotsk.” 
The spokesperson added that the take-or-pay deal between Gasum and Gazprom Export remained unchanged.
This implies that the take-or-pay deal, wherein the buyer must pay a penalty to the seller if it fails to uptake a minimum amount of goods, has been costing Gasum a penalty since April. 
On April 24, the Coral Energice had docked in Vysotsk but had left without collecting any LNG cargo.
The resumption of LNG imports into Finland will mean some relief for the country’s gas supply.