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Slovakia’s oil not affected if Russian supplies are cut, says Fico
26 Aug 2014 Flash News
SLOVAK consumers do not have to worry about a potential suspension of supplies of Russian crude oil via Ukraine, Slovak Prime Minister Robert Fico said after meeting with representatives of the company Transpetrol on August 25.
Slovakia can rely not only on stocks of crude oil and products, but also on the Adria crude oil pipeline in the event of halted or restricted crude oil supplies from Russia, Fico stated, as reported by the SITA newswire.
The Adria pipeline interconnects Slovakia and Hungary. The companies Slovnaft, MOL and Transpetrol are currently working on reconstructing it. In November its capacity should be increased from the current 3 million tonnes of crude oil annually to 6 million tonnes.
“This amount would completely cover Slovakia’s consumption,” Fico said, as quoted by SITA.
Slovak consumers can also rely on reserves of crude oil and crude oil products for a period of about seven months, according to Fico.
Any decision made by Ukraine to halt or restrict Russian oil supplies through its territory to the West would significantly damage Slovakia’s national interests, Fico stated, as quoted by the TASR newswire.
As Slovakia has displayed its solidarity with Ukraine by ensuring a small reverse gas flow from Slovakia to Ukraine, it expects Ukraine to behave similarly in terms of oil supplies to EU member states, Fico stated.
“The primary scenario we discussed was about oil supplies remaining safe at the current level. This doesn’t mean that we aren’t prepared for emergency scenarios, however,” said Fico.
“Halted supplies of crude oil from Ukraine would mean pressure on prices,” said Fico.
If a crude oil crisis occurs, Slovakia as a state would lose a lot of money because crude oil from the Adria crude oil pipeline would be more expensive, and also Transpetrol would lose its core business - supplying the commodity further westwards.
Currently, supplies of Russian crude oil via Ukraine to Slovakia are continuing as scheduled. Crude oil supplies are “very stable”, head of Transpetrol board of directors Ivan Krivosudský said, as reported by SITA.
Source: SITA, TASR
Compiled by Michaela Terenzani from press reports.
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