Read the latest economy news, market trends, and financial analysis on Archyde. Stay informed with global economic updates and expert insights.
Slovakia Secures Azerbaijani Gas Supply, Prepares for Disruption of Russian Gas Transit
Slovakia is diversifying its source its gas supplies, securing a new gas route from Azerbaijan. With the looming expiration of a gas transit agreement between Ukraine and Russia at the end of this year, Slovakia is seeking to reduce its dependence on inconsistent Russian gas supplies.
State-owned Slovak gas company SPP announced a pilot deal with Azerbaijan’s SOCAR to bring gas to Slovakia.
”This cooperation is an important step in our strategy to diversify gas supplies and prepare for possibility of a disruption of the transit through Ukraine,” SPP
The Slovak Gas Industry is not
## Slovakia Turns to Azerbaijan for Gas **Interviewer:** Joining us today is Alex Reed, an expert on energy security in Eastern Europe. Slovakia has just announced a new gas supply deal with Azerbaijan. Tell us, what does this mean for Slovakia in light of the expiring gas transit agreement between Russia and Ukraine? **Alex Reed:** It’s a significant move, showing Slovakia’s commitment to securing its energy future. Relying solely on Russian gas transit through Ukraine has become increasingly unreliable, both politically and geographically. This Azerbaijani deal is a crucial step in strengthening Slovakia’s energy independence and diversifying its sourcing, reducing vulnerabilities. **Interviewer:** How impactful do you think this new deal will be in the short and long term? “
What are the immediate benefits Slovakia expects to gain from the new gas supply deal with Azerbaijan?