Austria's balancing act: Russian gas flows despite disputes
Despite Austria's announcements about halting the import of Russian gas, deliveries have only slightly decreased. A decision regarding the transit agreement with Ukraine, whose end threatens the flow of resources, is approaching. However, Austria assures that citizens will not be left in the cold.
Contrary to earlier declarations about stopping gas import from Russia to Austria, the amount delivered has only slightly decreased. A spokesperson for Gas Connect, based in Vienna, provided information about this matter. Last week, the Austrian energy company OMV revealed that Gazprom, the Russian gas giant, had suspended gas deliveries due to a legal dispute. The day before, a representative of the Russian Ministry of Foreign Affairs explained the reason for this suspension, as reported by dw.com.
Russian gas still flows to Austria
However, as the publication notes, there appear to be other buyers interested in purchasing gas reaching the Austrian hub in Baumgarten, according to the representative of Gas Connect. He emphasized that the identity of these clients has not been publicly disclosed. Details regarding trading partners and bilateral transactions are unavailable to outsiders and are conducted through exchanges.
The price of gas in Austria has increased slightly and remains favourable for customers, noted the Gas Connect spokesperson, adding that Gazprom also maintains an interest in selling, as reported by dw.com.
Gazprom was supposed to halt deliveries to Austria
Earlier, Russian Gazprom stopped natural gas deliveries to Austria, confirmed by OMV spokesperson Sylvia Shin in an interview with the DPA agency. Thus, earlier reports on this matter were confirmed. This decision resulted from a legal dispute between Gazprom and OMV, in which the International Chamber of Commerce sided with the Austrian company, awarding compensation of €230 million (approximately CAD 345 million).
Austrian Chancellor Karl Nehammer assured that the country is prepared for this situation and that no one will freeze during the winter. Austrian gas storage facilities are well-stocked, and OMV has long-term agreements with other suppliers and transfer capacity from Germany and Italy. Additionally, receiving liquefied natural gas from the Netherlands is possible.
