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Austrian Gas Supply Safe Even if Russian Flows Stop: Reuters

NATGAS

Austria’s natural-gas supply is safe despite a heavy reliance on Russian imports, a government-commissioned study said, cited by Reuters.

  • Vienna has been struggling to find alternatives and Austria’s OMV continues to buy gas from Gazprom under a long-term contract.
  • In April, around 81% of Austria’s gas imports were Russian origin.
  • In their study, the Austrian Energy Agency cited several factors to cushion the blow if Russian imports were lost.
  • These included: investments in expanding import capabilities by pipeline from Germany and Italy, falling annual consumption, and gas storage at 82% full.
  • By comparison, storage was just 30% full during the same period in 2022.
  • Concern over Russian supply is connected to a Swedish court ruling which awarded damages from Gazprom due to undelivered gas in 2022.
  • Such payments could be rerouted from European companies still receiving Russian gas, including OMV.
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