Russia's energy giant to stop gas deliveries to Austria

Austrian energy company OMV announced that Russia's energy giant Gazprom will suspend gas deliveries to Austria starting Saturday. The move follows an arbitration ruling by the International Chamber of Commerce, which awarded OMV 230 million euros ($242 million) in a dispute over Gazprom's irregular gas deliveries.

In a statement, OMV confirmed that the arbitration award would be "offset with immediate effect" against its payment obligations to Gazprom, as reported by Xinhua news agency.

OMV is Gazprom's only contractual partner in Austria, according to Austrian broadcaster ORF.

In response to the suspension, Austria's Energy and Environment Minister Leonore Gewessler reassured the public on Friday via social media platform X (formerly Twitter) that the country had been preparing for this situation. She emphasized that Austria's energy supply remains secure, with domestic gas storage facilities at full capacity, enough to cover more than a year's worth of consumption.

"Russia is once again using energy as a weapon," Gewessler said, accusing Moscow of leveraging energy as a geopolitical tool.

Austrian Chancellor Karl Nehammer echoed these sentiments at a press conference, affirming that the country’s gas reserves are adequate. "Nobody has to freeze in Austria," he said.

OMV, which had already reported that its gas storage level was over 90% as of Wednesday, added that it has successfully diversified its gas supply sources to reduce dependence on Russian energy.

Austria had long been heavily reliant on Russian gas, with ORF reporting that over 80% of the country's gas imports in August came from Russia.