Slovakia natural gas company to completely source gas from Russia
(MENAFN) Slovakia’s leading natural gas company is preparing to source 100% of its gas from Russia next year, citing cost advantages amid the European Union’s efforts to restrict Russian energy imports, according to reports.
The EU’s RePowerEU strategy aims to eliminate Russian energy imports by the end of 2027. This includes prohibiting new pipeline and LNG agreements with Russia and ending imports based on existing spot contracts. However, Slovakia and Hungary have opposed parts of this plan and are expected to receive temporary exemptions allowing them to maintain long-term contracts with Gazprom.
Set to begin in January, the ban could open additional pipeline capacity for Slovakia’s Slovensky plynarensky priemysel (SPP) and Hungary’s MVM Magyar Villamos Muvek, according to Bloomberg.
Michal Lalik, SPP’s trade director, said, “Russian gas is the most cost-effective for us, which is why we prioritize it. We could be buying 100% of our needs, that’s about 8 million cubic meters per day.”
Recently, Slovak Prime Minister Robert Fico stated that Bratislava accepted guarantees from the European Commission to mitigate the effects of a potential Russian gas cutoff. Consequently, Slovakia withdrew its veto against the EU’s 18th sanctions package on Russia.
Slovakia has consistently resisted the EU’s push to end energy ties with Russia, warning that it could lead to serious economic harm. Fico criticized the EU’s plan as “imbecilic,” arguing it threatens Slovakia’s energy security and risks destabilizing the entire European Union.
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