NESA raising its risk assessment concerning the security of gas supply

As the competent authority under Regulation (EU) No 2017/1938 concerning measures to safeguard the security of gas supply, the National Emergency Supply Agency (NESA) has declared an alert level concerning the security of gas supply in Finland as per the Regulation. The decision is based on a technical review in accordance with the Regulation. The underwater Balticconnector gas pipeline between Finland and Estonia was damaged on 8 October 2023, as a result of which a major gas import connection will be unavailable for at least five months during the 2023/2024 winter season.

The Finnish gas market is currently stable, and natural gas is available normally on market terms via the Inkoo and Hamina LNG terminals. The decision to raise the risk level is based on an assessment indicating a reduced infrastructure standard (N – 1) due to one import connection being temporarily unavailable.

The alert level is the middle level on the three-level crisis scale. It is declared when a disruption of gas supply or exceptionally high gas demand which results in significant deterioration of the gas supply situation occurs but the market is still able to manage that disruption or demand without the need to resort to non-market-based measures.

At alert level, the gas market and the security of gas infrastructure in Finland are more closely monitored by the NESA and other authorities. The NESA can also give companies permission to tap into their compulsory stockpiles of gas. The Finnish gas market is actively monitored by Finland’s gas transmission system operator Gasgrid Finland.

Before this, Finland was at the early warning level, which the NESA declared on 6 May 2022 when Russia was halting natural gas supplies to Finland.