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Slovakia expects to sign long-term oil deal with Russia

October 14, 2014, 1:24 UTC+3 PRAGUE
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PRAGUE, October 13. /TASS/. Slovakia expects to sign at the end of October a treaty on oil supplies from Russia until the year 2029, the Slovak Ministry of Economy said in a statement on Monday.

The ministry said Slovakia saw the treaty as one of its main priorities. According to the ministry, it will take effect on January 1, 2015 and will continue until 2029.

“It will be automatically extended every five years, if none of the sides informs the other side through diplomatic channels about its intention to terminate the treaty,” the ministry said.

The treaty envisages yearly supplies of up to six million tons of oil from Russia to Slovakia via the Druzhba oil pipeline. The same amount of oil will run in transit through Slovakia to other European countries.

“Supplies from oil fields of the Russian Federation via Druzhba fully meet Slovakia’s demand for oil. We intend to maximally use the possibilities of this pipeline,” the report said.

It also said a draft agreement is currently discussed at the level of the Slovak and Russian governments.

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