Austrian Gas Deliveries Halted Following Court Victory Against Gazprom
News Context
At a glance
- As of this morning, Austria has halted its gas deliveries from Russia.
- An arbitration court ruled that OMV is entitled to receive 230 million euros in compensation from Gazprom Export.
- Austria has relied heavily on Russian gas, which has supplied approximately 80% of its energy needs.
Austria Stops Russian Gas Deliveries
As of this morning, Austria has halted its gas deliveries from Russia. This suspension is likely a result of a legal dispute. The Austrian energy firm, OMV, recently won a legal case against the Russian gas company Gazprom.
An arbitration court ruled that OMV is entitled to receive 230 million euros in compensation from Gazprom Export.
Austria has relied heavily on Russian gas, which has supplied approximately 80% of its energy needs. However, the Austrian regulatory body for energy and gas has assured that this stoppage will not lead to a gas shortage this winter, and homes will remain warm throughout the season.