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Uncertainty over Gazprom’s investment plans in Slovakia

The new investment plans of Russian energy giant Gazprom in Slovakia are still uncertain, with the head of Gazprom Export’s contract preparation and price-making department, Sergei Komlev, telling a news conference on Tuesday, June 9, that the Russian firm has still not decided, whether to start selling gas directly to Slovak customers – for example through its subsidiary Vemex – or to launch the construction of gas reservoirs in Slovakia in cooperation with the state.

The new investment plans of Russian energy giant Gazprom in Slovakia are still uncertain, with the head of Gazprom Export’s contract preparation and price-making department, Sergei Komlev, telling a news conference on Tuesday, June 9, that the Russian firm has still not decided, whether to start selling gas directly to Slovak customers – for example through its subsidiary Vemex – or to launch the construction of gas reservoirs in Slovakia in cooperation with the state.

“Everything depends on whether it is worth it from the economic viewpoint. If we are unable to achieve a return on the Slovak market, we will not be there – that is, we will not invest money somewhere where it does not bring a profit,” added Komlev, the SITA newswire reported

Negotiations between Gazprom and Slovak gas utility SPP, a.s. on the effects of the January gas crisis are still underway. Komlev said that the Russian side has the right to claim that not supplying gas to Slovakia this January was caused by “a vis major,” since it was the Ukrainian side’s fault that it had not properly signed the necessary contracts. “Blaming Gazprom for not supplying gas is groundless,” Komlev said, as quoted by SITA. SITA

Compiled by Zuzana Vilikovská from press reports
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