Finnish gas market opens up

From 1 January 2020, the Balticconnector gas pipeline will connect the Finnish and Baltic gas markets, thus opening up the Finnish market to competition. EU legislation requires that gas transmission be unbundled from the sale of energy in an open market. The unbundling requirement also concerns the ownership structures of companies operating at present.

From the start of the year, Gasum Oy’s gas transmission business will be run by Gasgrid Finland, a new company unbundled from Gasum. Gasum is owned jointly by the State and the special assignment company Gasonia Oy. Gasonia will be split up to form the special assignment company Suomen Kaasuverkko Oy. Suomen Kaasuverkko and the State will be joint owners of Gasgrid Finland, and responsibility for the ownership steering of these two companies will rest with the Ministry of Finance.

Gasum will continue as a gas production and sales company, and the unbundling has no impact on the ownership relations of the remaining parts of Gasum.

Now that the Balticconnector gas pipeline has been completed, gas can be imported to Finland from Russia and via the Baltic States.