Helsinki hosts celebrations dedicated to 30-year anniversary of Russian gas deliveries to Finland
Helsinki hosted today celebrations dedicated to a 30-year anniversary of Russian gas deliveries to Finland and to a 10-year anniversary of Gazprom. Attending the celebrations was Gazprom’s delegation headed by Alexey Miller, the Company’s Management Committee Chairman.
In the course of the visit, Alexey Miller met Matti Vanhanen, Prime Minister of Finland. The meeting underscored that gas consumption in Finland was growing fast and Gazprom was fully meeting the Finnish soaring gas demand. The parties expressed a common opinion that extending the existing long-term contract on gas deliveries to Finland would secure gas supplies in the required quantity.
Alexey Miller, Gazprom’s Management Committee Chairman and Antero Jannes, Gasum’s CEO signed a Memorandum on further cooperation between the companies. The Paper stipulates the contract on Russian gas deliveries to Finland being extended until 31 December 2025.
“Stable Russian gas shipments are a substantial contribution into the development of Finland’s industrial and power generation sectors. We’re very optimistic about the outlook of further cooperation between Russia and Finland in the gas business”, – maintained Alexey Miller.
First 1.4 bcm/y contract on natural gas deliveries from the former Soviet Union to Finland was signed in 1971, with first gas supplies launched in 1974. Over the 30 years, Finland received over 75 bcm of Russian natural gas. In 2003 and over the 1st 8 months of this year, gas deliveries to Finland accounted for 5.1 and 3.2 bcm, respectively, with last year’s parameter slated for 2004 as a whole.
Within the 1st 25 years, Gazprom was carrying on reliable and trustworthy business with the Finnish Neste firm reincorporated in 1998 into the Fortum Concern after the merger with the Imatran Voima company. As a result of the bilateral cooperation, the Russian and Finnish sides set up the Gasum joint venture assuming the responsibility for gas imports and marketing as well as the Finnish gas transmission system operation and development. For the time being, Gasum’s charter capital is divided in the following way: Gazprom (25%), Fortum (25%), Finnish State (24%), Ruhrgas AG (20%), a consortium of Finnish wood-processing companies (6%).
In 1994, upon successful expiration of the first 20-year contract, the parties entered into a new Agreement on Russian gas supplies to Finland, effective through 31 December 2014.
Information Directorate, OAO Gazprom