BAKU, Azerbaijan, September 2. The countries of Central and Eastern Europe are interested in long-term contracts with Azerbaijan for the supply of natural gas, Trend reports via Fitch Ratings agency.
According to Fitch, further supply cuts of Russian gas to Europe and search for alternative sources will continue to put pressure on the EU countries.
"European countries have made deals on short-term gas supplies from the US, Norway and Qatar in recent months, and expressed their interest in long-term contracts with Azerbaijan," Fitch said.
The complete cuts in supply of Russian gas will increase the risk associated with economic growth and weaken the state and external finance of Europe, said the agency.
"There is a considerable uncertainty about long-term alternatives, including potential expenses of additional infrastructure for Slovakia, the Czech Republic and Hungary. We consider Slovakia (A) and the Czech Republic (A A-) to be the most vulnerable countries. Now these countries have a negative outlook. Hungary's 'stable' outlook (BBB) reflects the risks associated with the country's low rating, and improvements can be expected with the financing of its budget from the EU," Fitch said.
