Slovakia to sign new treaty for supplies of Russian oil

GMT 16:14 2014 Saturday ,11 October

Arab Today, arab today Slovakia to sign new treaty for supplies of Russian oil

Minister of Economy of the Slovak Republic
Bratislava - XINHUA

Slovakia will sign new treaty with Russia for long term supplies of Russian oil, local news agency TASR reported on Friday.
The proposal of the agreement between the governments of Slovakia and Russia has been drafted and submitted for comments by the Slovak Economy Ministry, according to the report.
According to the agreement, Slovakia plans to buy as much as 6 million tons of Russian oil a year at least until the end of 2029 for domestic consumption and the same volume for transit across Slovakia to third countries.
Slovakia's production of oil is almost negligible when compared to its consumption.
"The conclusion of the new treaty is thus viewed as a strategic priority for the Slovak Republic. We consider the inking of a new agreement also important in terms of continuation and follow-up with respect to the tradition of relations between the two countries and the existing agreement on oil deliveries," stressed the Slovak Economy Ministry in its statement.
Slovak consumption is covered with oil supplies via the Druzhba pipeline. "The consumption of Slovakia's oil is fully realised with this pipeline system from the deposits of the Russian Federation. Slovakia has an interest in maximising the utilisation of the given pipeline," said the ministry.

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