On Gasum Supervisory Committee meeting
Helsinki hosted today a regular meeting of the Gazum Supervisory Committee. Participating in the event was Stanislav Tsygankov, member of the Committee, Head of the Gazprom International Business Department.
The meeting addressed the Interim Report on the Gasum operating highlights over nine months of 2009, approved its Business Plan for 2009–2013, as well as the 2009 Budget.
The next meeting of the Gasum Supervisory Committee is scheduled for March 2009.
Gasum is the only wholesale natural gas trader in Finland and the owner and operator of 1,030 km of gas trunkline network. The company’s shareholders are Fortnum (31 per cent), Gazprom (25 per cent), the Government of Finland (24 per cent), and E.ON Ruhrgas (20 per cent).
Gasum’s net sales for nine months of 2008 totaled EUR 834.6 mln, operating profit – EUR 18.8 mln, net profit – EUR 15.1 mln.
The forecasted gas sales in 2008 will average 4.5 bcm (7.2 per cent of increase versus 2007) primarily due to high prices for power energy.
Finland has been receiving natural gas from Russia for more than 30 years already. At present, over 90 bcm of gas has been exported to the country. The 1994 contract with Gazprom export was extended in January 2005 until 2025 inclusively.
The existing contracted volumes (5.6–6 bcmpa since 2008 and further on with an additional 0.9 bcm option starting from 2010) cover mid- and long-term sales liabilities and plans of Gasum.