Sunday, September 25, 2022

HomeLNGSlovak gas importer inks LNG deal with ExxonMobil

Slovak gas importer inks LNG deal with ExxonMobil

Slovakia’s national gas importer, SPP said that it signed a contract with American multinational oil and gas corporation, ExxonMobil to purchase liquified natural gas (LNG) in a bid to strengthen Slovakia’s energy independence, diversify sources and increase the security of gas supplies.

“Concluding a contract with a strategic partner such as ExxonMobil opens up new possibilities for us in the supply of natural gas and LNG,” said Richard Prokypčák, vice-chairman of the board and CEO of SPP, after signing the contract with ExxonMobil.

“Gas and LNG deliveries from various markets and terminals in Europe, for which we have secured physical transport capacity, are becoming a permanent and integral part of SPP’s business portfolio,” he added without specifying the volumes or price of the deal.

As a landlocked country, Slovakia secured gas supplies now from LNG terminals in Italy and Croatia in addition to supplies of LNG and piped gas from Norway. SPP, which serves around two-thirds of the Slovak market, said that by concluding diversification contracts, the company can currently cover more than 65 per cent of its customers’ consumption from sources other than Russian.

Since the beginning of the year, SPP has been buying LNG to increase the energy security of Slovakia and its energy independence. At the same time, the company is continuing to inject gas into the storage facilities, to be prepared ahead of winter.

SPP said that for the winter season, it was important to ensure a combination of sufficient storage capacities and a year-round stable gas flow. “Thanks to rigorous preparation, Slovakia is one of the most prepared countries in Europe in this area, before the upcoming winter season,” the company added.

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