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

Everybody Should Own Gold | George Bee – U.S. Gold Corp.

A $40M Company Created $2B in Mining Value | John-Mark Staude – Riverside Resources

The Debt Crisis Is Turning Gold Into Money | Shawn Khunkhun – Contango Silver and Gold

Recommended

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

Altamira Gold Drills 134 Metres of 0.5 g/t Gold at Maria Bonita, Hole Ends in Mineralization

Related News

Another Russian Energy Exec Falls, Becomes Latest Addition To Growing List Of Mysterious Deaths

Just over a week after Lukoil’s Ravil Maganov mysteriously fell from a hospital window in...

Wednesday, September 14, 2022, 06:22:00 PM

Eurozone Inflation Soars to 5.8%, Producer Prices Hit Record-High

Eurozone inflation soared to the highest on record last month, fuelling fears that the Russia-Ukraine...

Friday, March 4, 2022, 09:26:00 AM

Elon Musk Reportedly Denied Ukraine Extending Starlink To Crimea, But Still Supports Ukraine

Elon Musk reportedly personally refused a Ukrainian proposal to expand his satellite internet service to...

Thursday, October 13, 2022, 08:10:56 AM

Russian Soldiers Are Also Using Starlink In The Battlefield, Has Elon Musk Switched Sides?

Elon Musk’s satellite internet network, Starlink, is no longer just helping Ukraine fight the Russian...

Friday, February 9, 2024, 07:27:44 AM

Russia Grants Citizenship To US Surveillance Whistleblower Edward Snowden Amid ‘Partial’ Mobilization

Russian President Vladimir Putin has granted citizenship to Edward Snowden, a former United States intelligence...

Tuesday, September 27, 2022, 04:48:00 PM