For this purpose, the state energy company SPP a.s. (includes more than 60% of the gas market of the SR) ensured the extension of the contract for the supply of gas from the North Sea water area with the British BP pl.l.c. until 2024; extension for the period of 2023-2024 of the gas contract with the American ExxonMobil Corporation; supply of gas from the European companies Shell p.l.c., Eni S.p.A and RWE AG, with a total volume of up to 70% of the country’s annual consumption, which reaches 5.5 billion cubic meters per year.
The main factor affecting the formation of the government’s policy of diversification in the field of gas supply is the expectation of the Slovak side regarding the termination of the transit agreement concluded between NJSC Naftogaz of Ukraine, LLC Operator of GTS of Ukraine and Russia’s Gazprom, after its completion at the end of 2024 , and the risk of a sudden interruption of supplies from the territory of Ukraine in the conditions of the Russian-Ukrainian war.
At the same time, experts draw attention to the fact that in conditions of unstable equilibrium and loss of supply flexibility on the European gas market, the government of the SR is unable to ensure the reliability of supplies within the framework of the aforementioned diversification contracts in the medium-term perspective after 2024-2025.
Further replacement of Russian gas (up to 20% of annual consumption) in the gas balance of the SR and ensuring security of supply in the medium term, starting from 2025, is expected by gaining access to the global LNG market through the Polish terminals Świnoujście and Gdansk, the Croatian FSRU Krk Island, the Lithuanian FSRU Independence (Klaipeda), Italian and German LNG facilities. According to the available information, the management of the SPP company initiated negotiations with potential counterparties of the LNG market.
In addition, the Slovakian field near the city of Trnava is a promising local source of natural gas, the production potential of which is estimated at 300 to 500 million cubic meters of natural gas per year (up to 10% of the country’s annual consumption), and the exploitation period can be from 7 to 15 years.
According to experts, the supply and demand imbalance in the European natural gas market can be reconciled only in 2026 with the completion of the construction of the regasification and natural gas transportation infrastructure in Europe, and the structural transformation of the European industrial and energy sectors.
