AUSTRIA TO IMPORT GAS FROM GERMANY AND ITALY – The nation makes the decision to mitigate the impact of the halting of Russian gas through Ukraine
Austria says it plans to import natural gas from Germany and Italy to mitigate the impact of the halting of Russian gas through Ukraine, but rising energy prices remain a concern.
Russian energy giant Gazprom said that it had stopped gas supplies transiting through Ukraine due to the expiration of key agreements and the lack of renewal by the Ukrainian side.
Gazprom said Ukraine had repeatedly and unequivocally refused to extend these agreements, leaving the Russian company without the technical and legal means to continue the gas transit through Ukraine.
Austria is one of the European countries directly affected by the end of the supply, and while the Austrian government has sought to give assurances that gas shortages will be avoided through additional imports from Germany and Italy, many believe that higher gas prices are inevitable.
The Austrian Gas Grid Management AG (AGGM) confirmed that gas deliveries through the affected pipeline network have ceased, but stressed that Austria’s energy sector had been prepared, and that domestic gas supplies will remain secure.
However, experts from the Energie-Control Austria (E-Control), the Austrian regulatory authority for the electricity and gas markets, forecast a short-term rise of three to ten euros per megawatt-hour (MWh) for natural gas.
