Slovakia Faces €150 Million Increase in Russian Gas Costs

The halt of Russian gas transit through Ukraine threatens energy supplies in Eastern Europe. Slovakia could face a €150 million cost increase, amplifying political and economic tensions.

Share:

Comprehensive energy news coverage, updated nonstop

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

7-Day Pass

Up to 50 articles accessible for 7 days, with no automatic renewal

3 €/week*

FREE ACCOUNT

3 articles/month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 30,000 articles • 150+ analyses per week

Ukraine’s announcement to cease Russian gas transit through its territory starting January 1, 2025, is reshaping Europe’s energy landscape. This decision ends a 2019 agreement between Ukrainian companies Naftogaz and GTSOU and the Russian giant Gazprom. It will deeply impact Eastern European countries, where dependency on Russian gas remains significant despite a general decrease in European imports.

Major Impact on Slovakia

Slovakia is at the forefront of this crisis, relying heavily on Russian gas for its supply. Currently, Gazprom covers the transit fees through Ukraine, making this source more competitive than alternatives. With the planned shutdown, Slovakia will have to seek other suppliers, incurring an estimated additional cost of €150 million, according to the national company SPP.

This complex situation has prompted Prime Minister Robert Fico to strengthen negotiations with Moscow, despite international criticism. Ukrainian President Volodymyr Zelensky accuses Bratislava of indirectly financing Russia’s war efforts, an accusation dismissed by the Slovak government in favor of its priority on economic policy.

Costly Diversification

Austria, Slovakia’s neighbor, ended its long-term contract with Gazprom in December 2024, but this strategy remains difficult for Bratislava to adopt. “Diversification comes at a price,” explained Ondrej Sebesta, spokesperson for SPP. Alternatives include imports from more distant suppliers, such as Azerbaijan or Qatar, significantly increasing logistical costs.

In this context, experts warn of potential shortages, particularly if the winter of 2025 is exceptionally harsh. For the European Union, this crisis highlights the need to strengthen its common policies on energy security.

Moldova Under Pressure

Moldova is also heavily affected by the closure of Ukrainian transit routes. Although it has made significant efforts to diversify its energy sources, the country still depends on the Cuciurgan thermal power plant, located in the separatist Transnistria region and supplied with Russian gas. The Moldovan government has declared an energy emergency, anticipating power outages if supplies are not guaranteed.

Moldovan President Maia Sandu accuses Moscow of using energy as a political weapon. This situation arises at a critical time, just months before legislative elections, in an already tense relationship between Chisinau and the Kremlin.

Hungary’s Wait-and-See Position

Hungary, although less dependent on Ukrainian transit due to the TurkStream pipeline, remains cautious about these developments. Prime Minister Viktor Orban recently mentioned ongoing negotiations with Moscow and Kyiv to maintain modest volumes through Ukraine. However, this strategy fuels criticism within the European Union, which urges Budapest to reduce its ties with Gazprom.

According to expert Andras Deak, Hungary risks becoming “Gazprom’s last client” in the EU, exposing the country to increased political pressure from Brussels. By maintaining its partnership with Russia, Budapest opts for a controversial but economically viable path in the short term.

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.
Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.
Faced with risks to Middle Eastern supply chains, Thai and Japanese refiners are turning to US crude, backed by tariff incentives and strategies aligned with ongoing bilateral trade discussions.
France intercepted a tanker linked to Russian exports, prompting Emmanuel Macron to call for a coordinated European response to hinder vessels bypassing oil sanctions.
The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.
European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.
Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.
Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
Athens and Tripoli engage in a negotiation process to define their exclusive economic zones in the Mediterranean, amid geopolitical tensions and underwater energy stakes.
European powers demand concrete steps from Tehran on nuclear issue or United Nations sanctions will be reinstated, as IAEA inspections remain blocked and tensions with Washington persist.
Brussels confirms its target to end all Russian energy imports by 2028, despite growing diplomatic pressure from Washington amid the ongoing conflict in Ukraine.
Donald Trump threatens to escalate US sanctions against Russia, but only if NATO member states stop all Russian oil imports, which remain active via certain pipelines.
The two countries agreed to develop infrastructure dedicated to liquefied natural gas to strengthen Europe's energy security and boost transatlantic trade.
Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.
The United States cuts tariffs on Japanese imports to 15%, while Tokyo launches a massive investment plan targeting American energy, industry, and agriculture.

All the latest energy news, all the time

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

7 DAY PASS

Up to 50 items can be consulted for 7 days,
without automatic renewal

3€/week*

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.