Gazprom's Gas Cutoff Sparks Supply Shift in Austria

Gazprom, Russia's state-controlled gas company, is set to halt supplies to Austria's OMV utility this Saturday. Austria's Chancellor Karl Nehammer assures that the country’s gas storage is full and alternative sources are in place, following an OMV arbitration award over a previous cutoff.

Russia's state-owned natural gas giant Gazprom will cease supplying Austria's OMV utility starting early Saturday, as disclosed by Austria's Chancellor Karl Nehammer on Friday. He emphasized that Austria's underground gas reserves were filled, assuring citizens that alternative non-Russian gas supplies were secured.

This development comes after OMV declared its intention to discontinue payments for Gazprom gas directed to its Austrian division, in reaction to winning a 230 million euro arbitration award concerning an earlier disruption to its German operations.

Chancellor Nehammer reassured the public, stating that Austria is ensured a stable supply of alternative fuel, guaranteeing that "no one will freeze".

(With inputs from agencies.)