Spectator on facebook

Spectator on facebook

FOCUS SHORT

SPP and Gazprom clinch agreement

THE SLOVAK and Russian gas companies, Slovenský Plynárenský Priemysel (SPP) and Gazprom Export LLC, reached an agreement over gas prices on March 28, but details of the contract remain concealed.

THE SLOVAK and Russian gas companies, Slovenský Plynárenský Priemysel (SPP) and Gazprom Export LLC, reached an agreement over gas prices on March 28, but details of the contract remain concealed.

SPP informed in its press release that the agreement is related to the adjustment of the purchase price and the adjustment of the contract parameters of the long-term natural gas purchase contract in order to reflect, to a greater extent, the current development of natural gas markets. The new arrangements reflect a sustainable partnership and commitment of both partners to the security and stability of gas supplies for all customers of SPP. This agreement therefore represents a move towards a more competitive position of SPP having a positive impact on its financial performance, SPP said in a statement.

Negotiating new conditions with Gazprom was one of the basic conditions for the takeover of the 100-percent stake of the SPP parent company by the state, the SITA newswire wrote. The government has agreed with the minority owner of SPP, the company Energetický a Průmyslový Holding (EPH) that it will take over its 49-percent share in the company and thus will de facto control retail gas pricing in the biggest Slovak gas supplier.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

We want a decent Slovakia, people chanted in squares

On the eve of the Velvet Revolution anniversary, people protested in the thousands, calling for a decent Slovakia.

Bratislava protest November 16, 2018

What we didn't know about our freedom

In 1989, we thought that once the job was done, we would only go out to the squares for Sunday walks.

November 1989 in Bratislava

The courage to fight for democracy

Authoritarian societies squander the possibilities of human achievement, of lives lived to their fullest, writes the US ambassador to Slovakia.

Illustrative stock photo

While France has Beaujolais Nouveau, Slovakia has St Catherine's wines

This warm summer with an early harvest was a blessing for young wine.

St Catherine's wines