Gasum refuses to export Gazprom in rubles as Russia requests European countries.
“It is extremely unfortunate that the supply of natural gas will now be cut off under our supply agreement,” Gassam CEO Mika Wiljanen said in a statement.
“However, we are carefully preparing for this situation and providing that there will be no interruption in the gas transmission network. We will be able to supply gas to all our customers next month,” he said.
The cut-off will take place on May 21 at 0400 GMT.
Gassum said it would continue to supply gas to Finnish customers from other sources via the Baltic connecting pipeline connecting Finland to Estonia.
Gassum warned on Wednesday that Russia could cut off gas supplies due to a dispute over the ruble payment.
Most of the gas used in Finland comes from Russia, but gas accounts for about 5% of its annual energy consumption.
Gazprom immediately responded to a request for comment.
Earlier in the day, Kremlin spokesman Dmitry Peskov said Moscow had no information about Gazprom’s supply agreement.
“But obviously no one will be given anything for free,” Peskov said.
The prospect of losing most of the gas supply has prompted Finnish industry leaders, such as Neste, Metsa and others, to make contingency plans to find alternative energy sources or adapt their production.
Forestry group Stora Enso says it has already replaced Russian natural gas with liquefied natural gas (LNG) in all its units.
Its peer UPM says it uses gas supplied from Western suppliers via the Baltic connector pipeline but is nonetheless preparing for the possibility of short-term disruption.