The energy regulator E-Control does not assume that there will be a gas shortage in Austria. If Gazprom were to stop deliveries to Austria, many of the measures taken would ensure that supplies would be secure for the next two winters. OMV is currently receiving natural gas from the Russian gas giant as planned, but believes it is well prepared for the worst.
E-Control board member Alfons Haber referred to the gas storage facilities in Austria and other EU countries that are more than 90 percent full. Instead of gas via pipelines via Ukraine, Austria could be supplied with liquefied natural gas via Germany and Italy.
All measures together ensured that, according to scenario calculations, there would be no gas shortage until May 2026
A megawatt hour of natural gas currently costs about 45 euros on the stock exchange. In any case, prices that peak above 300 euros in mid-2022 are not expected.
OMV is currently receiving natural gas from Gazprom as planned. Approximately four to five terawatt hours (TWh) of gas are purchased from Russia every month.
On Wednesday, the company was awarded more than 230 million euros in damages in the dispute with Gazprom. OMV wants to offset the claim against payment obligations to the gas supplier.
OMV has several arbitration proceedings underway with Gazprom, this dispute concerned irregular deliveries from Gazprom Export and the complete cessation of deliveries in Germany in September 2022. The resulting damage is largely covered by the awarded 230 million euros plus interest and costs.
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.
