Wednesday, April 2, 2025

Slovakia News

Prices for EUROPE GAS remain stable as the storage needs continue to support them

Dutch and British wholesale prices for gas were slightly higher on Monday morning, but are expected to be more volatile this week due to the milder weather being offset by the necessity to replenish storages as peace in Ukraine is still elusive. LSEG data shows that the Dutch front-month contract rose 0.60 euros to 41.00 euros per Megawatt Hour (MWh), which is $13.01/mmBtu by 0850 GMT. The contract for the month of May, which is now the front-month was increased by 0.81 euros at 41.40 euro/MWh. The day-ahead contract in the British market rose by 2.00 pence, to 99.00 pence per therm.

Slovak SPP: Gazprom will increase gas supply through TurkStream in April

The CEO of Slovak importer SPP Vojtech Ferencz, who spoke to reporters on Monday, said that Russia's Gazprom would substantially increase its gas supplies to Slovakia via the TurkStream pipe from April. SPP reported last month that Gazprom started supplying gas again to Slovakia at the start of February using volumes donated by Hungary for the TurkStream pipeline. SPP said last month that volumes were expected to double in April but did not specify amounts. Ferencz announced on Monday that the TurkStream capacity had been released, allowing the company to increase the shipment by several times what it was in the previous two months.

Sources: Turkey and Slovakia receive US waiver extensions for gas payments to Russia

Sources told reporters on Thursday that the United States has extended waivers to Turkey and Slovakia for gas payments made to Russia. The extensions will be valid until the end of May. Washington imposed sanctions on Russia's Gazprombank in November over the Ukraine conflict. Gazprombank is one of Russia's largest banks and receives payments from Gazprom customers in Europe for natural gas. The United States granted a waiver to Turkey, Hungary, and Slovakia in December. This removed a major obstacle for them to pay for the Russian gas they receive via the TurkStream pipeline. The energy ministry of Turkey declined to comment.

The price of gas in Europe has recovered from a new 5-month low

The European wholesale gas price at the TTF hub has rebounded after dropping to its lowest level in 5 months early in trade, amid protests against gas infrastructure in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose to 39.94 Euros per megawatt hour or MWh, or $12.71/mmBtu at 09:39 GMT. It traded at 36.45 Euros/MWh earlier on Friday. This was its lowest price since September 27, 2024. The British front-month contracts also hit a low of five months and traded at 91 pence a therm, 3.04 pence less. The British day-ahead contracts was up 1.75 cents at 95 p/therm.

Ukraine's gas imports are still low despite Russian attacks on gas production

The operator of the state-run transmission system for gas reported that despite the massive Russian missile strike on Ukrainian gas production over night, Ukrainian gas imports remained relatively low on Friday. Naftogaz, the Ukrainian state gas company, said that Russian forces have targeted Ukraine's infrastructure for energy production and damaged its natural gas production facilities. After a series Russian missile attacks on Ukraine's gas installations, the volume of Ukrainian gas imports increased by almost tenfold. Imports have declined so far in march due to a rise in temperatures.

Hungary wants to remove eight people from EU sanctions against Russia

EU diplomats say that Hungary wants to remove 8 individuals from the European Union’s Russia sanctions list, and to receive new guarantees regarding Ukraine gas transit negotiations before it agrees to renew restrictions. EU sanctions against Russia, imposed because of Moscow's war on Ukraine, must be renewed by unanimous vote every six months. Budapest has used this renewal as a bargaining opportunity. Peter Szijjarto, the Hungarian Minister of Foreign Affairs, wrote on Facebook on Monday that Budapest "would not consent to moving forward" in extending sanctions against individuals.

Data shows that Ukraine gas imports will increase by 10% on Thursday.

Data provided by the operator for gas transmission systems shows that Ukraine will increase its gas imports by 10% to 25 million cubic metres on Thursday, following Russian missile attacks which damaged Ukrainian gas production plants earlier in the week. Ukraine's Naftogaz, the state-owned oil and gas company in Ukraine, and DTEK, a private energy firm said that gas production facilities had been damaged by a Russian air attack on central Poltava on Tuesday. Operator data indicated that 9.8 mcm would be imported from Hungary on Thursday, followed by 11.6 mcm in Slovakia and 3.5mcm in Poland.

Data show that Ukraine kept its gas imports high on Sunday.

The operator of the state-owned gas transmission system revealed that Ukraine will maintain its gas imports to a high level, 16,3 million cubic meters (mcm), on Sunday. Data suggested that Ukraine would import gas from Hungary, Slovakia and Poland. Ukraine increased its gas imports dramatically last week, following a series Russian missile attacks that targeted Ukrainian gas sector installations in recent months. In January, Russia launched missiles and drones against Ukraine's Lviv region in western Ukraine where gas storage facilities were located as well as the Kharkiv area which is the main Ukrainian production area.

Orban: Hungary will block EU Russia sanctions the next time, unless Ukraine gas is transited again.

Hungarian Prime Minster Viktor Orban warned on Friday that he would block the next rollover in EU sanctions against Russia, unless Brussels helped achieve a restart of Russian Gas Transit via Ukraine which was stopped on January 1. Orban said on state radio that Ukraine's decision to stop Russian gas transit into Central Europe, and the price hike that resulted from it, was "unacceptable". The transit agreement expired, and Russian gas exports through pipelines in Ukraine ceased. Kyiv has refused to negotiate another transit agreement as the war against Russia's invasion enters its third year.

Prices of EUROPE GAS rebound due to a weaker wind and colder weather

The wholesale gas prices in the Netherlands and Britain rebounded Tuesday morning after falling on Monday, due to expected colder weather conditions and reduced wind output. The benchmark contract for the Dutch TTF hub at 0914 GMT was 0.67 euros higher, at 48.59 Euros per Megawatt Hour (MWh), while the contract for March was 1.52 Euros higher, at 48.45 EUR/MWh. The contract in Britain for March was 0.57 cents higher, at 119.39 cents per therm. Analysts at Engie EnergyScan said that temperatures are still higher than normal in many European countries, but are now dropping. This should lead to an increase in gas demand within Local Distribution Zones.

EU source: EU selects PwC for mineral, energy platform

The EU has chosen PriceWaterhouseCoopers and a Slovak software company to develop a 9 million euro ($9.4 million) joint purchasing platform for critical minerals and energy, according to a European Commission source and a document seen by . Source who refused to give their name said that the platform would have three separate mechanisms: one for raw materials such as hydrogen and another for energy products like natural gas and biomethane. Other EU sources stated that the final details of this platform is still being worked out. The industry was concerned about the difficulties of combining trading for 17 essential minerals…

Fico is likely to survive a vote of no confidence as the coalition rebels back him

The Slovak prime minister Robert Fico is likely to survive a forthcoming vote of no confidence after rebel legislators in one ruling coalition said that they would not be supporting the motion. The opposition parties announced on Tuesday that they would initiate a vote of no confidence against Fico’s leftist and nationalist government. They accused him of pushing the country’s foreign policy towards Russia, while doing little to solve problems at home. Since coming to power in late 2023, the government has changed its focus on foreign policy by ceasing state military assistance to Ukraine to fight a full-scale Russian invader and reestablishing ties with Moscow.

Hungary will increase its gas exports to Slovakia starting April

The transmission system operator FGSZ announced on Tuesday that Hungary would increase its gas export to Slovakia from 2.63 billion cubic metres per year to 3.5 bcm by April. Hungary's decision to increase its export capacity to the north follows Ukraine refusing to renew a transit agreement with Russia, as it seeks a reduction in revenue that goes to Moscow for funding the war in Ukraine. The expiration of this deal has stopped a major route for Russian Gas to be shipped into Slovakia and Western Europe. Robert Fico, the Slovak prime minister, has threatened to take retaliatory actions against Kyiv.

Document shows that ten EU countries have called for sanctions against Russian LNG and gas

A document obtained by revealed that ten European Union nations have asked the 27-nation group to ban the imports of gas from Russia. This comes as Europe is debating new sanctions against Moscow for its war in Ukraine. The EU is currently preparing its 16th set of sanctions against Russia's economic system, in advance of the third anniversary Moscow's invasion of Ukraine on a large scale. This will take place in February 2022. The 10 countries include the Czech Republic as well as Denmark, Estonia, and Finland. They want Europe to do more to target Russia's oil exports to reduce the revenue flowing to Moscow.

Slovak deputy speaker of parliament arrives in Moscow. TASS reports

The Russian state news agency TASS reported that Andrej Danko, the Deputy Speaker of the Slovak Parliament, arrived in Moscow Sunday. Bratislava is seeking a solution after Ukraine decided to stop Russian gas deliveries to Europe. TASS, as well as the Slovak media agency TASR, reported that Danko's planned visit before the gas conflict will continue through Wednesday. Slovak Premier Robert Fico stated on Friday that Russian President Vladimir Putin had promised that Russia's Gazprom state-owned gas company would find other ways to deliver gas contracted to Slovakia once transit through Ukraine was stopped.

Protesters say Fico dragging Slovakia to Russia in Ukraine gas dispute

On Friday, thousands of protesters in Slovak's capital chanted and held banners accusing Prime Minister Robert Fico that he was dragging his country to Russia after meeting President Vladimir Putin during a dispute over gas with Ukraine last month. Slovakia and Ukraine have argued over Ukraine's decision to stop transiting Russian gas through their territory as of Jan. 1. The aim is to cut off Moscow from its revenue stream. Fico and Ukrainian President Volodymyr Zelenskiy met in Moscow on December 22 to discuss the transit of gas. Since Russia invaded Ukraine, in February 2022, this was the only third time an EU leader has visited Moscow.

The industry in the breakaway Moldovan region shuts down due to lack of Russian gas

An official confirmed on Thursday that the cutoff of Russian gas supply to Moldova's Transdniestria region, which is a breakaway region of Moldova, has forced all industrial companies - except for food producers - to close. The Russian gas cutoff to Central and Eastern Europe through Ukraine on Wednesday has caused a severe and immediate impact on the mainly Russian-speaking region of 450,000 people that split off from Moldova during the Soviet Union's collapse in the 1990s. Sergei Obolonik told a local channel that "all industrial enterprises were idle except those involved in food production, which directly ensures food security for Transdniestria".

Austria Energy Regulator expects smooth transition when Ukraine gas deal ends

Austrian energy regulator E-Control says that it should not experience any disruption in supply as it is preparing to switch from eastern natural gas supplies to western alternatives following the expiration of Ukraine's Gazprom contract on Tuesday. Ukraine announced that it would terminate its gas transit agreement with Gazprom. This month, energy company OMV also ended its agreement with Gazprom after a dispute with the Russian firm. Markus Krug is the deputy head of E-Control's gas department. He said that the regulator closely followed the events but didn't anticipate any disruptions to gas supply…

As the gas transit dispute escalates, Ukraine's Zelenskiy lashes out at Slovak Prime Minister Fico

On Saturday, Ukrainian President Volodymyr Zelenskiy accused Slovakian Prime Minister Robert Fico of opening a second energy front against Ukraine at the behest of Russia as the dispute over gas transit between the two countries intensified. Ukraine currently pumps Russian gas to Slovakia and other European countries through its territory. However, the current transit agreement - which was signed before Moscow invaded Ukraine - will expire at the end this year. Fico, who met with Russian President Vladimir Putin earlier this week in Moscow…

EUROPE GAS - Prices rise due to colder weather forecast and transit concerns in Ukraine

Dutch and British wholesale prices for gas rose on Friday, boosted by cold weather forecasts in January and the fading hope of a new agreement to transit Russian gas via Ukraine. By 0914 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 1.27 euros to 46.80 euros/megawatt hour or $14.36/mmBtu. The contract for February was increased by 1,211 euros to 46,96 euros/MWh. The front-month contract in Britain increased by 2.44 pence to 118.20 cents per therm. The trend towards a cold, but only moderately unsettling situation during the first 10 Days of January is a certainty. All forecasts show a rising pressure in the north Atlantic.

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