Russia's Natural Gas Flows to Austria Rise Despite OMV Cutoff

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Russia's Natural Gas Flows to Austria Rise Despite OMV Cutoff
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Despite a recent supply halt to OMV, Austria and Slovakia are seeking more Russian gas via Ukraine, while Europe prepares for the potential end-of-year closure of the transit route.

Requests from customers in Austria and Slovakia for Russia n natural gas supply via Ukraine rose by 6% on Tuesday compared to Monday, even as Gazprom cut off supply to Austrian energy group OMV this weekend amid a contractual dispute. Nominations from companies in Austria and Slovakia were still 12% below last week’s levels, which was prior to Russia n gas giant Gazprom halting supply to OMV .

The EU gas market has been on edge since OMV said last week it was awarded $242 million 230 million euros, plus interest and costs, in an arbitration case against Gazprom’s irregular German gas supplies and “takes the necessary next steps to enforce the arbitral award with immediate effect.

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