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Austria's Reduced Reliance on Russian Gas
Austria's energy regulator E-Control states the country is no longer dependent on Russian gas, despite high previous reliance. Concerns remain regarding the impact of potential supply disruptions and related price increases.
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EconomyGermany Russia Ukraine WarGeopoliticsEnergy SecurityEuropeEnergyGas Supply
E-ControlOmvGazpromDpa
Alfons Haber
- Is Austria still dependent on Russian gas supplies?
- Austria is no longer dependent on Russian gas supplies, according to Austria's energy regulator E-Control. The country has found alternative supply routes, and even a complete stop of Russian gas would not lead to cold homes this winter or next.
- What is the current situation with OMV and Gazprom?
- The uncertainty around Russian gas supplies has increased recently after a court awarded OMV €230 million in a dispute with Gazprom. OMV considers the gas paid for, and a complete stop of Russian gas delivery by Moscow is therefore possible.
- What is the anticipated impact on gas prices due to expiring transit contracts?
- Analysts expect a temporary price increase of about 10 percent when contracts between Kyiv and Moscow for gas transit through Ukraine expire in December. However, the price impact will not be comparable to that of 2022.
- What would be the impact of a complete stop of Russian gas supplies to Austria?
- A complete stop of Russian gas would affect the entire Austrian gas market, as OMV is the sole contractor of Gazprom and handles all deliveries. OMV supplies about 30% of the gas to industrial customers, and the rest to other business partners that serve private customers.
- What is the status of the German storage levy for gas transiting through Austria?
- The German storage levy for gas passing through to Austria is unlikely to be abolished on January 1st, as planned. This is because the amendment of the Energy Economy Act is uncertain, which is problematic as the levy constitutes approximately seven percent of the gas price in Austria.