Slovakia starts purchasing natural gas from Azerbaijan to secure reliable energy supply
Date
11/14/2024 7:40:56 AM
(MENAFN) On Wednesday, Slovakia's state-owned gas company, SPP, announced that it has started purchasing Natural gas from Azerbaijan as part of its strategy to diversify and secure a reliable energy supply. The company has entered into a short-term pilot contract with SOCAR, Azerbaijan's state energy company, to evaluate the feasibility of ongoing gas imports from the country. If the pilot project proves successful, SPP will consider transitioning to a long-term contract, according to spokesperson Ondrej Sebesta.
Despite the fact that the transit of Russian gas through Ukraine remains the most cost-effective option for Slovakia, SPP's General Manager Vojtech Ferencz emphasized the importance of mitigating risks associated with potential disruptions in Russian gas supplies. This has prompted the company to seek alternative sources of natural gas to ensure stable deliveries to its customers.
SPP has already secured commercial contracts for gas from non-Russian suppliers that offer flexibility in both volume and timing, giving the company more options in case of emergencies. In the event of a disruption to supplies from Russia, Slovakia has alternative gas delivery routes in place. However, SPP cautioned that switching to these alternatives would come at a significantly higher cost compared to the usual Russian gas supply.
This move by SPP reflects broader trends in Europe, where countries are increasingly looking to reduce reliance on Russian energy and explore other supply options, particularly in light of the ongoing geopolitical tensions.
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