Slovak gas company SPP started importing Russian gas through the TurkStream pipeline on 1 February, with supplies expected to double by April.

Source:SPP Chairman of the Board Vojtech Ferencz in a comment to journalists on Thursday, as reported by European Pravda, citing Slovak news outlet TASR

Details:Ferencz did not reveal the exact volume of supplies but mentioned that SPP still holds a contract with Russian energy giant Gazprom, with a significantly lower transit fee compared to other suppliers.

SPP trade division head Michal Lalik added that despite this agreement, Slovakia would likely still need to import gas through other routes, as the pipeline through Hungary cannot meet the country's consumption.

Another route will likely be through Germany via Czechia, where SPP has reserved capacity.

In January, SPP primarily met its customers' needs by withdrawing gas from its own reservoirs, where reserves remain above average.

Ferencz stressed that SPP's priority is to ensure sufficient gas supplies for its customers.

The issue lies in rising gas prices and higher transit fees for deliveries via alternative routes. Currently, gas prices exceed the long-term average of €53 per megawatt-hour (MWh). Before Russia's gas transit through Ukraine was suspended in December, prices hovered around €40/MWh.

Traders are also concerned about a potential gas shortage in the summer, as EU countries must fill their storage facilities in accordance with a European Commission directive to ensure sufficient gas reserves for the start of the next heating season.

Background:

• Bilateral relations between Kyiv and Bratislava deteriorated after Ukraine stopped transiting Russian gas through its territory, particularly to Slovakia.
• Slovak Prime Minister Fico called Ukrainian President Volodymyr Zelenskyy an "enemy" of Slovakia in an online dispute over the transit of Russian gas through Ukraine. The Slovak prime minister was also angered by Zelenskyy’s support for mass anti-government protests in Slovakia.

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