Slovnaft Signs Another One-year Contract on Oil Transit with JANAF

Bratislava, February 26 (TASR) - Hungary's MOL and Slovnaft oil companies signed a contract on the transfer of more than two million tons of oil with JANAF, the firm which runs the Croatian portion of the Adria pipeline, spokesperson of Slovnaft Anton Molnar announced on Wednesday. According to Molnar, it is regrettable that nothing but another yearly contract was concluded again, one with significantly higher fees in comparison to regular European transit fees. "The MOL group is convinced that a multi-year deal would have improved the predictability of the environment with a view towards higher security of supplies in the region. The steep fees for the transit via the Adria pipeline, as stipulated in the contract, certainly won't contribute towards the preservation of energy price stability," claimed Molnar. The only way to reduce the vulnerability of landlocked countries regarding oil supplies is to keep all options of alternative routes open. "With this knowledge and responsibility over the security of oil supplies for the entire region, MOL and Slovnaft had no choice but to sign the yearly contract," added Molnar. Both companies signed the contract on storing oil at Omisalj and Sisak terminals until the end of 2027. mf/mcs