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Information about Gasum
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Revenue €1,571.0 million
(2020: 664.3)
Equity ratio 18%
(2020: 36.0%)
Gasum Green Funding Framework
Gasum Green Funding Framework is part of the company’s financing strategy and is used by the company to show the positive environmental and climate impacts of its business.
CICERO Shades of Green has evaluated and given Gasum’s Green Funding Framework the grade of dark green, which is allocated to the most climate friendly projects or business solutions that promote the long-term vision of the transition to a low-carbon society.
Gasum Green Funding report 2021
Gasum Green Funding report 2020
Please read more about Gasum Group's key figures and annual financial reports.
Financial reports
On the afternoon of Friday May 20, Gazprom Export informed Gasum that natural gas supplies to Finland under Gasum’s supply contract will be cut on Saturday May 21, 2022 at 07.00.
Starting from tomorrow, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline. Gasum’s gas filling stations in the gas network area will continue in normal operation.
“It is highly regrettable that natural gas supplies under our supply contract will now be halted. However, we have been carefully preparing for this situation and provided that there will be no disruptions in the gas transmission network, we will be able to supply all our customers with gas in the coming months,” says Gasum’s CEO Mika Wiljanen.
For more information please contact:
Mika Wiljanen, Chief Executive Officer, Gasum
Olga Väisänen, Vice President, Communications and Sustainability, Gasum
Phone: +358 40 55 40 578, olga.vaisanen@gasum.com
Gasum considers there to be a real risk of the natural gas supplies under the company’s gas supply contract ending and that it is likely that imports of natural gas from Russia to Finland will cease either late on Friday, May 20 or on Saturday, May 21, 2022. Gasum has not received any information about the matter from Gazprom Export or from the Russian transmission operator.
Gasum will continue preparing for the situation together with its customers and the national authorities responsible for emergency supply. During the coming summer season, Gasum will aim to ensure the availability of gas for its Finnish natural gas customers from other sources through the Balticconnector gas pipeline. However, constraints on transmission capacity can make this challenging.
For more information please contact:
Olga Väisänen, Vice President, Communications and Sustainability, Gasum
Phone: +358 40 55 40 578, firstname.surname(a)gasum.com
Gasum has a long-term gas supply contract with Russian Gazprom Export, the details of which the companies have been negotiating since autumn last year. In April, Gazprom Export sent Gasum a letter, requirering that going forward the payments agreed in the supply contract should be made in rubles instead of euros. In addition, Gazprom Export has made other claims on Gasum regarding the supply contract.
Gasum does not accept Gazprom Export's requirement to switch to ruble payments and will consequently not make payments in rubles or under Gazprom Export’s proposed payment arrangement. In addition, the companies are in significant dispute concerning other claims submitted under the contract.
Overall, this is something that Gasum cannot accept and has decided to take the disputes regarding the supply contract to arbitration in accordance with the contract. The matter will be considered in arbitration.
Gasum considers there to be an increased risk of the natural gas supply in accordance with the existing supply under the existing supply contract being halted, and consequently the import of natural gas from Russia to Finland might end. Gasum has been preparing for this situation together with its customers and the national authorities. During the coming summer season, Gasum will aim to ensure the availability of natural gas for its Finnish customers through the Balticconnector gas pipeline. However, constraints on transmission capacity can make this challenging.
“In this situation, Gasum had no choice but to take the contract to arbitration. In this challenging situation, we will do our utmost to be able to supply our Finnish customers with the energy they need," says Mika Wiljanen, CEO of Gasum.
For more information please contact:
Mika Wiljanen, Chief Executive Officer, Gasum
Olga Väisänen, Vice President, Communications and Sustainability, Gasum
Phone: +358 40 55 40 578, olga.vaisanen@gasum.com
Gasum Group Q4 2021 – The uncertainty related to the energy market grew
