Gas Supply Halt: Austria’s Assurance of No Shortage Amid Gazprom Withdrawal

Austria Stops Receiving Gas from Russia

As of November 15, 2024, Russia’s state-owned company Gazprom has halted gas deliveries to Austria. This sudden stop raises concerns about a gas shortage. However, Austrian Chancellor Karl Nehammer reassures the public that gas storage levels are good and adequate for the winter.

Austria previously relied on Gazprom for over 80% of its gas imports. The country had been preparing for this disruption, anticipating challenges ahead. Chancellor Nehammer stated, “I can promise you, no one in Austria will freeze due to a gas shortage.”

Storage Levels Are High

Experts had predicted a potential delivery stop due to an expiring transit contract for Russian gas through Ukraine by the end of the year. Therefore, energy companies began seeking alternative sources.

Chancellor Nehammer highlighted that Austria’s gas storage is currently 93% full, equating to 94.5 Terawatt-hours—more than a year’s worth of gas for the country.

Collaborative Storage Ownership

The energy regulator E-Control also assures that a gas shortage in Austria is unlikely. According to their calculations, the country can manage its supply even with the loss of Russian gas for the next two winters.

Some of the gas stored belongs to Germany, but energy expert Walter Boltz believes the available gas will still suffice to get Austria through one to two winter seasons. He warned that the abrupt cessation of Russian gas supplies would lead to increased prices, emphasizing that while there won’t be a shortage, the unexpected nature of the situation could affect costs.

The gas supply halt is linked to a dispute over damages. A court ordered Gazprom to pay €230 million, which they have refused. Consequently, Austria’s OMV energy company decided to cease payments to Gazprom until the debt is settled.