When should OMV withdraw from the gagging agreement with Russia’s Gazprom? This is what ÖVP MP Othmar Karas and former CEO Gerhard Roiss said on Wednesday. The domestic gas supply is guaranteed until the end of 2025.
According to Roiss, this is the right time to initiate the exit. He does not know the contract with Gazprom in detail, but is convinced of the possibility of an exit.
According to Roiss, gas consumption in Austria has fallen considerably: ‘At the end of winter the warehouses are still 70 percent full.’ Karas adds that Austria is no longer dependent on Russian gas: ‘We have to get out of the OMV crisis. Gazprom System Contract. That is possible, security of supply is guaranteed.”
Billions in gas for Russia’s war chest
The money is being used to help finance Russia’s war against Ukraine: “It is important that you not only support Ukraine, but also translate promises into action.”
“We currently have a realistic chance to leave the country because Ukraine does not want to renew the transit agreement,” Karas explained. “This means that the gas will no longer reach us at the end of 2024.” He calls for a clear legal decision from Austria and the EU. “We must start this phase-out today.” He calls on Austria to expand the 40-kilometer WAG pipeline that runs through Upper Austria.
Karas calls for an energy union
The Western Austrian Gas Pipeline (WAG) currently only runs in one direction, from east to west. The WAG route should be supplemented with a pipeline in the opposite direction, the so-called ‘loop’. Then the gas could not flow from east to west as before, but in both directions. This means that gas can no longer only reach Austria from Russia, but also, for example, from Norway to Upper Austria. This would promote Europe’s independence from Russian gas.
At the EU level, Karas calls for strengthening the energy union: “Joint gas purchasing would be beneficial and should be massively expanded.” To this end, he calls for investments in infrastructure and a genuine European internal network market.
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.
