Thu Apr 8, 2010 11:37am IST
BRATISLAVA, April 7 (Reuters) - Slovakia extended a contract for nuclear fuel deliveries with Russia on Wednesday and dropped an arbitration suit against Gazprom (GAZP.MM: Quote, Profile, Research) in a sign of improving relations between the two countries.
The euro zone member's dominant power company Slovenske Elektrarne (SE), a unit of Italy's utility Enel (ENEI.MI: Quote, Profile, Research), said in a statement the agreement with Russia's TVEL, for two new units at Mochove power plant, covered the 2012-2017 period.
The company declined to comment on deal's value.
The agreement was concluded during a visit by Russian President Dmitry Medvedev to Bratislava, his first trip to the central European euro zone member country.
SE plans to complete its third unit at the country's newest nuclear site in Mochovce by 2012 and the fourth unit in early 2013, each with 440 MW output. The first two units were connected to the grid in 1998 and 1999 respectively.
Russia is the sole supplier to Mochovce and the second Slovak nuclear plant at Jaslovske Bohunice.
The main Slovak gas company SPP separately announced it had dropped a suit against Russia's Gazprom over an interruption of gas supplies amid a price row between Russia and Ukraine in early 2009, which led to shortages across eastern Europe.
SPP, managed by E.ON Ruhrgas (EONGn.DE: Quote, Profile, Research) and GDF Suez (GSZ.PA: Quote, Profile, Research), had filed an appeal for compensation at international arbitration, but it said on Wednesday it had decided to withdraw the appeal.
"After having evaluated further chances, risks and high costs of a positive outcome within appropriate timeframe, SPP decided to withdraw the appeal from international arbitrage," the utility wrote on its website.
It added it had agreed with its Russian gas supplier Gazprom Export that contracted annual volumes of gas will be temporarily cut and will be increased in later years, as a reflection of decreasing gas demand in the global economic crisis.
The resolution does not imply any financial compensation for any party to the contract, the company said. (Additional reporting by Denis Demkin; editing by James Jukwey)
Source: http://in.reuters.com/article/oilRpt/idINLDE63706T20100408?sp=true
BRATISLAVA, April 7 (Reuters) - Slovakia extended a contract for nuclear fuel deliveries with Russia on Wednesday and dropped an arbitration suit against Gazprom (GAZP.MM: Quote, Profile, Research) in a sign of improving relations between the two countries.
The euro zone member's dominant power company Slovenske Elektrarne (SE), a unit of Italy's utility Enel (ENEI.MI: Quote, Profile, Research), said in a statement the agreement with Russia's TVEL, for two new units at Mochove power plant, covered the 2012-2017 period.
The company declined to comment on deal's value.
The agreement was concluded during a visit by Russian President Dmitry Medvedev to Bratislava, his first trip to the central European euro zone member country.
SE plans to complete its third unit at the country's newest nuclear site in Mochovce by 2012 and the fourth unit in early 2013, each with 440 MW output. The first two units were connected to the grid in 1998 and 1999 respectively.
Russia is the sole supplier to Mochovce and the second Slovak nuclear plant at Jaslovske Bohunice.
The main Slovak gas company SPP separately announced it had dropped a suit against Russia's Gazprom over an interruption of gas supplies amid a price row between Russia and Ukraine in early 2009, which led to shortages across eastern Europe.
SPP, managed by E.ON Ruhrgas (EONGn.DE: Quote, Profile, Research) and GDF Suez (GSZ.PA: Quote, Profile, Research), had filed an appeal for compensation at international arbitration, but it said on Wednesday it had decided to withdraw the appeal.
"After having evaluated further chances, risks and high costs of a positive outcome within appropriate timeframe, SPP decided to withdraw the appeal from international arbitrage," the utility wrote on its website.
It added it had agreed with its Russian gas supplier Gazprom Export that contracted annual volumes of gas will be temporarily cut and will be increased in later years, as a reflection of decreasing gas demand in the global economic crisis.
The resolution does not imply any financial compensation for any party to the contract, the company said. (Additional reporting by Denis Demkin; editing by James Jukwey)
Source: http://in.reuters.com/article/oilRpt/idINLDE63706T20100408?sp=true
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