Oil and gas
BMI has said that Slovakia has an above average dependency on imports for the region. The country is dependent on Russia, but has recently announced a 5.9 billion Euro infrastructure programme which will hopefully allow the country more flexibility when negotiating gas purchases and may also boost supply.
When it comes to consumption, Slovakia’s hydrocarbon import bill for 2014 is expected to total US$5.37 billion and there is little prospect for domestic production increases. Oil consumption is also expected to increase this year, however, the country is a small net refined fuels exporter and this is set to stay to 2023. For gas, consumption is likely to stall with a downside risk if further gas fire power generation capacity is shut.
Following a year of growth in the petrochemicals sector, BMI has said that uncertainty now clouds is prosperity for 2015. This is due to the euro zone showing volatility that will affect domestic end use industries such as car production. However, an increase in low density polyethylene (LDPE) is expected. The petrochemicals industry in Slovakia is small by global standards and largely is used to fulfil domestic demand. Yet, it has become more efficient and productive in recent years as a result of the consolidation of Slovnaft’s petrochemical operations into MOL.
Petrochemical capacity in the country includes 210 000 tpy of ethylene, 50 000 tpy of benzene, 40 000 tpy of ethylene oxide, 40 000 tpy of ethylene glycol, 180 000 tpy of LDPE, 255 000 tpy of polypropylene and 65 000 tpy of xylenes. BMI have reported that these capacities remain unchanged from 2013.
Edited from report brief by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/refining/04022015/bmi-slovakia-oil-gas-petchem/