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NATURAL GAS: Austrian Gas Market Faces Uncertainty

NATURAL GAS
BulletEnergy BulletsCommodities

Austria’s gas market has ridden out the cut off of Russian supply in recent weeks with little change in supply or pricing dynamics.

  • Despite Gazprom cutting off OMV from supplies, Austria has continued to receive Russian gas via Slovakia.
  • Looking ahead however, the European base case is for Russin gas supplies to halt at the end of the year as the 5-year contract finishes.
  • In the absence of Russian gas, Austrian firms would need to source alternative supply, requiring Austrian prices to open up enough of a premium to neighbouring markets to cover transport costs.
  • Germany’s controversial storage levy removal is under threat due to the government collapse, making 2025 procurement challenging.
  • Gazprombank sanctions also potentially impact European supply. Austria could be impacted as it is still receiving supplies through Slovakia.
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Austria’s gas market has ridden out the cut off of Russian supply in recent weeks with little change in supply or pricing dynamics.

  • Despite Gazprom cutting off OMV from supplies, Austria has continued to receive Russian gas via Slovakia.
  • Looking ahead however, the European base case is for Russin gas supplies to halt at the end of the year as the 5-year contract finishes.
  • In the absence of Russian gas, Austrian firms would need to source alternative supply, requiring Austrian prices to open up enough of a premium to neighbouring markets to cover transport costs.
  • Germany’s controversial storage levy removal is under threat due to the government collapse, making 2025 procurement challenging.
  • Gazprombank sanctions also potentially impact European supply. Austria could be impacted as it is still receiving supplies through Slovakia.