Eastring project could be beneficial for Slovakia

"The gas map of Europe is changing following Russia's decision to scrap the South Stream project, which was supposed to bypass Ukraine and supply south-eastern Europe, and it now seems that Moscow has abandoned its strategy of boosting its presence on EU markets," said Michal Hudec from Energy Analytics on TABLET.TV on Thursday. "A common market that should also include Ukraine is emerging in Europe. Russia had been attempting to influence this development to its own benefits. This pressure may be weaker in the future," said Hudec. A new gas pipeline project called Eastring, which has been unveiled by Slovak company Eustream, could serve as an alternative for supplying south-eastern Europe with gas. The new 570-kilometre pipeline with an annual capacity of 20 billion cubic metres of gas should connect up Slovakia and Romania. According to Hudec, this project will be highly important for Slovakia. "Slovakia will remain a significant gas transit country in the EU. It also has an economic dimension, as it makes it possible to use the existing infrastructure in the long term. The state has a stake in Eustream, so this move will secure dividends and income for the state budget," added Hudec.