Natural gas from Russia has been supplied to Finland for over 40 years. The first contract was signed in 1971, for supplying up to 1.4 bcm per year.
Gas actually started arriving in Finland in 1974, and to date Finland has taken delivery of about 121 bcm, including 2.76 bcm in 2015.
For 25 years, the Russian party’s partner was Finland’s Neste company (renamed Fortum after merging with Imatran Voima in 1998), with which Gazprom has developed a strong relationship. For many years the companies have cultivated the Finnish natural gas market together. In 1994, this collaboration resulted in the founding of the joint-stock company Gasum, committed to importing and selling natural gas as well as operating and developing Finland’s gas transmission system.
In December 2015, Gazprom Export and Gasum extended the March 12, 1994 contract for gas supply to Finland through to December 31, 2031.