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Czech Republic boosts gas reserves after flow cuts in Poland and Bulgaria

The Czech Republic bought 2.4 terawatt hours of gas for $ 365 million from the majority state-owned utility company CEZ to add to its state reserves in the event of supply problems, the National Reserve said on Sunday, according to Reuters.

The Czech Republic is almost 100% dependent on gas for Russia, which cut off gas supplies to Bulgaria and Poland last Wednesday after refusing to pay in rubles, raising concerns that other countries could be affected. in a similar way.

“The Czech Republic is increasing its energy security with this market,” Pavel Svagr, head of the stock service, wrote on Twitter.

This is the first time he has bought gas reserves. The price paid includes transportation and storage and the volume amounts to about 2% of the country’s consumption in 2021.

The country also has reserves of oil and petroleum products that are sufficient to meet its needs for three months or more.

Source: Capital

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