Czechs plan new state energy trader to boost gas security

　　div classBodysc17zpet90 cdBBJodivpPRAGUE Reuters – The Czech industry ministry plans to launch a new state energy trader whose main aim is purchasing gas as the central European country seeks to boost its energy security and shift away from dependence on Russian supplies.p

　　pThe Czech Republic is nearly 100 dependent for its gas on Russia, which cut supplies to Bulgaria and Poland last month after they refused to pay for it in roubles as demanded, sparking concerns other European Union countries could be similarly hit.pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pIndustry Minister Jozef Sikela told a news conference on Monday the new trader would concentrate on gas supplies at the start and it would make purchases to help cover the states consumption. p

　　p“We are working on establishing a state energy trader, primarily, we want it to use for gas purchases, perhaps also for some other kinds of energy over time,” he said. p

　　p“The state trader will be able to talk directly to foreign gas producers and buy from them at better prices,” Sikela said. p

　　pGas imports are currently made by private companies.p

　　pSikela said gas storage levels in the country have reached over 40, above levels of just below 30 at this time one year ago.p

　　pThe state this month, for the first time, added gas to its state reserves as Russias invasion of Ukraine prompted a rethink on energy security and a drive to cut dependence on Russian supplies. Utility bills for households and companies have also soared, worsened by the war which has caused energy and commoditiy prices to spike. p

　　pFor its reserves, the state purchased 2.4 terawatt hours TWh of gas for 8.5 billion crowns 365 million from majority stateowned utility CEZ. The volume amounts to around 2 of the countrys 2021 consumption.p

　　pSikela said having a state trader would also increase the states influence on gas storage in the country. p

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　　pp Reporting by Jason Hovet and Robert Muller Editing by Emelia SitholeMatarisep

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