BMI View: Slovakia has above-average energy import dependency compared with the regional average.
The country remains reliant on Russia but is actively pushing through several projects aimed at improving bi-directional flows and establishing regional links for a regional gas market in Central and Southeast Europe. Its role a key gas transit country for gas coming from Russia, through Ukraine and Slovakia before heading to Western Europe, should also be maintained over the coming years.
Latest Developments And Key Forecasts
We expect the Bratislava refinery to continue running at high utilisation rates. However, there is longterm downside risk to refined fuels production, given the continued refining capacity oversupply situation in Europe and narrowing refining margins.
Slovnaft revealed new investment plans for up to 2020, highlighting that it is planning to focus on the production of chemicals and plastics and will invest some EUR460mn in this sector by 2020.