On November 15, 2024, Austrian energy company OMV announced plans to terminate imports of Russian gas by November 20, 2024, ahead of the previously scheduled end of Ukrainian transit on December 31, 2024. This decision follows OMV's recent arbitration victory over Gazprom, which resulted in a compensation ruling of €230 million plus interest and costs.
Alfons Haber, head of Austria's energy regulator E-Control, reassured the public that the country would not face heating shortages this winter, emphasizing that Austria no longer relies on Russian gas imports.
OMV's legal action stemmed from disruptions in gas supplies from Gazprom, particularly following the cessation of deliveries through the Nord Stream pipeline in August 2022. The company plans to withhold future payments to Gazprom until the awarded compensation is settled.
On the same day, Austria's Climate and Energy Minister, Leonore Gewessler, supported OMV's decision, asserting that it does not pose an immediate threat to national energy security. She stated that Austria has prepared alternative gas supplies and can manage without Russian imports.
OMV's strategy aims to exit a long-term contract with Gazprom, which obligates them to purchase large volumes of gas until 2040. The company is diversifying its gas sources and has secured pipeline gas from Norway and liquefied natural gas (LNG) contracts, with storage facilities reportedly over 90% full.
As Austria approaches the end of its reliance on Russian gas, the implications for future energy supply routes remain significant, particularly with the expiration of the Ukraine-Russia gas transit agreement at the end of 2024.