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BMI View: As a net importer of energy, Slovakia faces the challenge of securing long-term gas supplies
without becoming too dependent on Russia. Linking its gas network to others in the region is therefore a
priority, as it will allow for more flexibility when negotiating gas purchases. Reduced nuclear power usage
points to a greater reliance on gas, until sufficient renewables capacity can be established. However, efforts
to raise domestic gas prices are being resisted by the government, which may reduce the attractiveness of
the Slovak gas sector to foreign investors.
The key trends and developments in Slovakia’s oil and gas sector are:
? German utility E.ON and France’s GDF Suez said in February 2013 they have agreed to sell their
combined 49% stake in Slovak gas group SPP for EUR2.6bn to Czech investment fund Energeticky a
Prumyslovy Holding (EPH). The SPP deal had been long expected and was pending the formal
agreement of the Slovak government, whose 51% stake will also be sold to EPH. E.ON and GDF Suez
had an equal share of their stake.