Experts have recently raised concerns about Finland's heavy reliance on Russian natural gas imports and the potential consequences of implementing a ban on these imports. According to calculations, Finland could face a significant shortage, losing over 10% of its natural gas supply, if it bans imports of Russian gas. Such a shortfall could be catastrophic for this Scandinavian country. Analysts estimate that in 2023, Russia emerged as the third-largest supplier of LNG to Finland among its major providers. A ban on importing this crucial fuel would result in Finland losing over 10% of its gas resources, experts assert. According to Finland's Ministry of Economic Affairs, Finland purchased 1 million tons of LNG from ten different countries between January and October 2023. The cost of this fuel amounted to €512 million. The United States became the primary exporter of LNG to Finland, claiming nearly 63% of the LNG market share. In 2023, the United States supplied 633,000 tons of LNG to Finland at a value of €316 million. Norway secured the second spot in the rankings, with 130,000 tons of LNG imported worth €66 million. As for Russia, it supplied 107,000 tons of LNG worth €46 million. Consequently, in 2023, Russia's LNG shipments to Finland accounted for nearly 11% of the total volume and 9% of the total value of LNG imports. Other major suppliers included Algeria (67,000 tonnes, 7% of the market) and the Netherlands (21,000 tonnes, 2% of the market). Spain, Sweden, Lithuania, France, and Belgium also featured among the significant LNG suppliers, collectively exporting 41,000 tonnes of gas worth €29 million to Finland. As per Helsingin Sanomat, citing Kai Mykkänen, Finland's Minister of the Environment and Climate Change, the Finnish authorities intend to ban LNG imports from Russia by 2025. However, this ban might be in effect for a limited time only.
