Austrian Gas Supply Strains Under Gazprom-OMV Contract Termination

Russian gas exports to Europe through Ukraine remained stable despite Vienna-based OMV's contract termination with Russia's Gazprom due to a contractual dispute. Austria's reliance on Russian gas has come under scrutiny, though measures are in place to accommodate supply disruptions. Gazprom's scheduled deliveries to Europe continue as other suppliers compensate.

Exports of Russian gas to Europe via Ukraine maintained their steadiness on Thursday according to data, despite a significant development the day prior when Austria's OMV announced the termination of its long-term contract with Gazprom, the Kremlin-controlled energy giant.

Regardless of the stoppage initiated in mid-November due to a contract and legal dispute with OMV, Russia's overall gas exports through this route have remained constant, as other buyers have taken over the purchase of these volumes. Although Austrian companies are now secured by alternative sources and substantial reserves, the termination emphasized Austria's reliance on Russian gas.

Gazprom confirmed it would deliver 42.4 million cubic meters of gas to Europe through Ukraine on Thursday, matching the prior day's volume. According to transmission operator Eustream, gas flow nominations to Austria from Slovakia and to the Czech Republic from Slovakia showed little change from recent days, alongside steady inflows into Slovakia from Ukraine.

(With inputs from agencies.)