Concerns about Austria’s natural gas supply are increasing: because…
Deliveries from Russia are at risk, transit taxes are imposed in neighboring countries and additional pipelines are delayed.
Austria is still assured of its gas supply this winter: the storage facilities are currently 80 percent full, the Russian gas (still 70 percent for us!) continues to flow.
Nevertheless, concerns are growing, according to Bernhard Painz and Michael Woltran, heads of AGGM, which is responsible for gas infrastructure and network planning: “Ukraine has announced that it will end transit from Russia by the end of 2024. In addition, Germany and, from April, Italy will charge additional line rates, which will make our imports from Norway and liquefied gas more expensive. If we buy gas in the summer to fill the storage facilities for next winter, this could lead to price shocks.”
Funding for a new pipeline is shaky
The further fact is that our current pipeline capabilities are not sufficient to purchase entirely from other non-Russian sources. But the planned further line to Bavaria is stagnating because financing is not certain due to a lack of legal conditions.
Domestic biogas and hydrogen offer great possibilities. But there are currently no laws to feed them into the domestic network or storage systems.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
