Russia Stops Gas Flow to Austria in Payment Dispute

Russia’s Gazprom halted natural gas supplies to Austria on Saturday in a payment dispute, marking another reduction in Moscow’s dwindling energy ties with Europe nearly three years after the Ukraine invasion.

Austrian utility OMV said deliveries stopped at 6 a.m. (0500 GMT) after it moved to offset a 230 million euro ($242 million) arbitration award against Gazprom by withholding payments for current gas supplies.

Austria’s energy regulator E-Control said prices and supplies to Austrian customers remained steady. The country gets up to 98% of its gas from Russia as of December last year, according to Energy Minister Lenore Gewessler.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Gazprom maintained its daily flow of 42.4 million cubic meters to Europe via Ukraine, with Slovakia’s state-owned SPP reporting continued deliveries and increased purchases by other buyers.

The dispute comes as the Soviet-era Urengoy-Pomary-Uzhgorod pipeline through Ukraine, one of Russia’s last major gas routes to Europe, faces closure at year-end. Ukraine does not plan to extend the five-year transit agreement that supplies gas to Slovakia, the Czech Republic, and Austria.

Russia has lost most of its European gas market since 2022, when it cut supplies citing payment disputes — a move European leaders called energy blackmail over their support for Ukraine. The Nord Stream pipeline to Germany was later destroyed in explosions.

Austrian Chancellor Karl Nehammer sought to reassure the public about winter supplies, with OMV saying its storage is more than 90% full. Europe has increasingly turned to alternative suppliers, including US and Qatari liquefied natural gas.

Without Austria, significant Russian gas supplies to Europe will flow only to Hungary and Slovakia, with Hungary receiving deliveries via Turkey. Russian gas transit through Ukraine in 2023 has fallen to about 8% of peak flows in 2018-2019.


Information for this story was found via Reuters, AP News, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Gold & Copper Stocks Everyone Keeps Asking About | Oct. 12-16 – Weekly Mining Mailbag

Similar Gold Mines Are Valued 10X Higher. Why Not This One? | JW Dumont – Granada Gold Mine

The US Interest Bill Gold Can’t Ignore | Peter Grandich

Recommended

Cambria’s Silver Coin Infill Program Delivers 98.56 g/t Gold Over 8.2 Metres

First Majestic Produces 3.4 Million Ounces of Silver in Q3 2026, Jerritt Canyon Restart Remains on Track

Related News

Russia Seizes Key Officials’ Passports To Prevent Defections

Russia’s security services are seizing the passports of senior officials and executives from state-owned enterprises...

Wednesday, April 5, 2023, 11:52:00 AM

EU Gas Prices Soaring Once Again as Countries Agree to Cut Consumption by 15%

Natural gas prices in the EU are climbing sharply once again, after Russia slashed shipments...

Thursday, July 28, 2022, 02:15:00 PM

Is Russia Launching A Nuke Into Space This Year?

Is Russia preparing to launch a nuclear weapon into space or is the US using...

Wednesday, February 21, 2024, 02:02:00 PM

Kazakhstan Will Not Recognize Referendums In Occupied Ukraine

Kazakhstan, a close ex-Soviet republic, said on Monday that it will not recognize the annexation...

Tuesday, September 27, 2022, 02:33:00 PM

Joe Biden to Speak With Chinese President in Effort to Exert Pressure on Putin

For the first time since November, US President Joe Biden is slated to speak with...

Thursday, March 17, 2022, 03:36:00 PM