Austria saw a huge risk of stopping Russian gas supplies
Photo is illustrative in nature. From open sources.
For two years, Austria has been reducing gas imports from RUSSIA, but in the first half of 2024, the volume of imports reached pre-war levels. The Ministry of Energy warned of risks for the country if such supplies were stopped.
Austria sees a huge risk of a sudden cessation of supplies of Russian natural gas, which continues to supply the export-oriented heavy industry of this Central European country, BLOOMBERG reports , citing a statement by the country's Ministry of Energy.
“As long as there is dependence on Russian gas supplies, there is a huge risk of a corresponding supply disruption with far-reaching consequences. We must put an end to Austria's dependence as soon as possible,” the ministry said in a statement.
Bloomberg recalls that the ruling coalition in Austria has promised to stop importing Russian gas by 2027 as part of the transformation of the country's energy system. According to the agency, the government may present the first roadmap for this transformation as early as September 29.
Fuel consumption in Austria continues to decline: in the first half of this year, consumption fell by about 23% compared to an average of 91 TWh per year before the Russian sting operation in Ukraine began . At the end of last year, consumption averaged 75 TWh.
According to a government report, in a worst-case scenario (if gas supplies from Russia were immediately cut off), the volume of gas in Austrian storage facilities could fall to 15% of capacity by 2026. A more likely scenario would see Russian supplies cease from January 2025, with new supplies via Italy meeting rising demand and storage capacity reaching 60% capacity by 2027.
Before the start of full-scale fighting in Ukraine, Austria purchased about 80% of its gas consumption from Russia. During 2022 and 2023, the volume of exports decreased (down to 21%), but in the first half of 2024 it reached pre-war levels.
Austrian Chancellor Karl Nehammer last September called the purchase of Russian gas “morally unpleasant” but a necessary measure to ensure the security of energy supplies. He noted that Russian gas is no cheaper than other suppliers, but the existing pipeline system has become a serious problem in the way of abandoning it.
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