Home News Slovakia does not suffer from a lack of gas. The reservoirs are filled to more than 70 percent, significantly more than last year

Slovakia does not suffer from a lack of gas. The reservoirs are filled to more than 70 percent, significantly more than last year

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Slovakia does not suffer from a lack of gas.  The reservoirs are filled to more than 70 percent, significantly more than last year

Despite the nearing end of the heating season, the supply of gas in Slovak reservoirs is unusually high, and this week it still exceeded the limit of 70 percent of the maximum capacity. A year ago, the gas supply was about nine percentage points lower.

Price development

Reserves in other European countries are also relatively high, which has a positive effect on the development of gas prices, pointed out the executive director of the Slovak Gas and Oil Association, Richard Kvasňovský.

“The high level of stocks has a positive effect on the development of prices. There is currently enough gas in the European Union, so it can be assumed that prices can remain at a level below 30 euros/megawatt hour (MWh) for a longer time. It can also be assumed that storage tanks will be filled more quickly before winter season to a level of at least 90 percent of capacity, as requested by the European Commission. From the point of view of energy security, this is good news,” Kvasňovský told TASR.

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On Wednesday, March 6, Slovak reservoirs were filled to 70.47 percent and the energy value of the stored gas was at the level of almost 26 terawatt hours (TWh). That is more than half of the annual gas consumption in Slovakia. Reservoirs across the European Union were 61.3 percent full on the same date.

Gas supplies through Ukraine

However, the gas market is still unstable. According to Kvasňovský, the relatively low current prices of natural gas on the stock exchanges could change the failure of one of the existing sources of gas, including Russian.

About 40 million cubic meters of Russian gas flows through Slovakia every day, a large part of which continues to Austria and Italy.

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“It is also important for Slovakia from the point of view of filling the reservoirs in the short term that gas supplies continue through Ukraine. It is also important from the price point of view, because some measures in the EU internal market, such as the fee for gas storage in Germany, make gas imports more expensive from LNG terminals and thus worsen its availability for landlocked countries,” added Kvasňovský.

However, the contract between Ukraine and Russia for the transportation of natural gas to Europe will end at the end of this year, and Ukraine does not plan to renew it. It is not even clear whether he will agree to another solution that would not require a contractual relationship with Russia.

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