Russia, a major energy supplier to Austria, has ceased exporting gas to the nation starting on Nov. 16, Russian state-owned natural gas company Gazprom said.
Gazprom informed Austria’s largest energy supplier, OMV, on Nov. 15 that all gas supplies were to be stopped. More than 90 percent of Austria’s gas imports came from Russia as of March.
Austrian Chancellor Karl Nehammer assured citizens of energy availability following the Russian announcement. “What we have been preparing for since the outbreak of war in Ukraine has happened,” he wrote in a Nov. 15 post on social media platform X.
“I can promise: No one will freeze in the winter, no home will remain cold. We are prepared: our gas storage facilities are full and from tomorrow we will receive sufficient gas from other sources.”
European Commission President Ursula von der Leyen blamed Russian President Vladimir Putin for using “energy as a weapon,” according to a Nov. 16 post on X.
“He is trying to blackmail Austria & Europe by cutting gas supplies. We are prepared for this and ready for the winter. Gas storage across the EU is full. As I told @karlnehammer yesterday Europe stands united in supporting Austria,” she wrote.
Gazprom’s gas stoppage followed an arbitration case victory by OMV in relation to the Russian company’s irregular gas supplies to Germany.
The International Chamber of Commerce, based in France, ruled in favor of the Austrian energy supplier. As part of the ruling, OMV won 230 million euros (about $242 million) plus interest and costs. OMV recovered this amount from payments due to Gazprom. Following this series of actions, the Russian company ceased gas deliveries.
Nehammer dismissed concerns that Austria would be placed in a tight spot, pointing out that the country’s natural gas storage level is currently at 93 percent, enough for 94.5 trillion watt-hours of power generation.
“That is more than the annual requirement for the whole of Austria,” he said.
“All gas suppliers have been legally obliged to develop precautionary measures so that we are as well prepared as possible for this day. We are showing that we will not allow ourselves to be blackmailed by Putin!”
EU Gas Situation Amid War
In a Nov. 15 post, following Gazprom’s supply cut, ING bank said that European natural gas prices traded at “their highest levels since November last year.”Dutch TTF Natural Gas futures, a leading European benchmark for gas prices, rose by 0.7 percent to close at 46.55 euros on Nov. 15.
Following Russia’s 2022 invasion of Ukraine, the European Union launched a plan to phase out the region’s dependence on Russia for fossil fuels.
“With EU sanctions banning seaborne imports of Russian crude oil and refined petroleum products as well as Russian coal, imports of Russian gas ... dropped from a 45% share of overall EU gas imports in 2021, to only 18% up to August 2024,” a recent report from the European Union stated.
Meanwhile, the ascension of President-elect Donald Trump to the White House in January 2025 opens up a path for a possible resolution in the Russia–Ukraine war.
During his election campaign, Trump vowed to end the conflict, saying that the United States had spent too much to support the European nation against Moscow.
