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Free AccessGas Origin Certification an Issue for Austria Gas Storage Law
Austria gas storage obligations will be difficult to enforce because no system exists to certify whether gas is of Russian origin according to Argus sources.
- Austria's council of ministers on 5 July approved amendments enforcing stricter gas storage obligations on importers of Russian gas.
- Suppliers are obliged to guarantee supply to protected customers for 45 total days from October-March reducing to 30 days with "suitable documents" to prove that the gas did not come from Russia.
- It is unclear how the regulator might enforce the new storage rules due to the lack of a system to guarantee the origin of gas imports. Other existing systems could be adapted to serve this purpose according to Austrian energy regulator E-Control.
- E-Control hopes the new rules will be approved for this coming autumn but may not be formally presented to Austria's parliament until September due to a summer recess.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.