Negotiations between the Slovak gas utility SPP and Russia’s giant Gazprom on a revision of the long-term gas supply contract have still not been completed. Neither of the parties was prepared to specify when the negotiations could end in an agreement.
“According to the current development of the negotiations on modifications to the parameters of the contract for the supply of gas, we believe in a positive outcome. We can conclude that both parties proceed constructively in the negotiations but based on an agreement of both contracting parties, we will not offer more details,” said SPP’s spokesperson Peter Bednár. The Slovak side would like modifications made in regards to the parameters related to the purchase price of gas, as it is higher than what gas is currently sold for on the spot market.
The results of the negotiations will be particularly important for the government, which currently holds a 51 percent stake in SPP and next year wants to take over the entire 100 percent stake in the parent company SPP itself. It agreed to buy the remaining 49 percent stake from the new minority shareholders, EPH (Energy and Industrial Holding). The government wants to take over the entire parent company SPP, despite the fact that the company is generating a loss from the sale of gas to households.
