On November 15, 2024, Russia's Gazprom announced the suspension of gas deliveries to Austria, effective from November 16. This decision, reported by the Austrian oil and gas company OMV, could signify the cessation of the last Russian gas supplies to Europe.
The gas supply to OMV via Ukraine was already at risk due to an ongoing arbitration case against Gazprom. Austria remains one of the few European nations still reliant on Russian gas, as many others have significantly reduced imports following Russia's invasion of Ukraine in 2022.
Gazprom's suspension will halt the flow of approximately 7,400 megawatt hours per hour, equating to around 5 terawatt hours per month. The current transit agreement between Moscow and Kyiv is set to expire at the end of the year, with Kyiv indicating it will not renew the contract.
OMV stated it has been preparing for this eventuality and has secured alternative gas supplies from Germany, Italy, and the Netherlands. However, analysts warn that this cut-off may exacerbate an ongoing energy crisis in Austria, which is already facing a recession and declining gas demand.
EU energy commissioner Kadri Simson reassured that all EU countries receiving gas via Ukraine have access to alternative supply sources, emphasizing that there is no need for continued Russian gas transit.