Gas Firm Plans Full Dependence on Russian Supplies

(MENAFN) Slovakia’s leading natural gas company intends to source 100% of its gas from Russia next year, according to a report by a news outlet.

Company representatives pointed to cost advantages as the main reason for this decision, even as EU member states prepare to impose a ban on spot purchases of Russian energy.

The European Union is targeting a complete phase-out of Russian energy imports by the end of 2027 under its RePowerEU initiative.

This strategy involves prohibiting new pipeline and LNG agreements with Moscow and ending imports based on existing spot deals.

Despite this, the proposal has encountered resistance from Slovakia and Hungary.

Both nations are anticipated to receive temporary exemptions, allowing them to maintain their long-term contracts with Gazprom.

The forthcoming ban, scheduled to start in January, might free up additional pipeline capacity benefiting Slovakia’s Slovensky plynarensky priemysel (SPP) and Hungary’s MVM Magyar Villamos Muvek, the news outlet reported on Monday.

Michal Lalik, trade director at SPP, told the news outlet that “Russian gas is the most cost-effective for us, which is why we prioritize it.”

He added, “We could be buying 100% of our needs, that’s about 8 million cubic meters per day.”

Last week, Slovak Prime Minister Robert Fico revealed that Bratislava had accepted guarantees from the European Commission aimed at mitigating the consequences of a potential stoppage in Russian gas deliveries.

Following these assurances, Slovakia withdrew its veto on the EU’s 18th sanctions package against Russia.

Slovakia has consistently opposed the EU’s efforts to cut energy ties with Russia, cautioning that it would cause significant economic harm.

Fico has criticized the bloc’s plan as “imbecilic,” arguing that it threatens Slovakia’s energy security and risks destabilizing the entire European Union.

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