83% of Gazprom's supplies to Austria have been preserved: It is unclear why it was necessary to rock up prices

On November 16, Gazprom stopped supplying gas to Austrian OMV. However, 83% of gas supplies to the country — to the local gas hub — remained. Experts do not understand why the Austrian company had to rock up the situation and raise gas prices.

As EADaily reported, Russian gas supplies to Austria, despite the suspension of shipments for OMV, continue.

According to the Slovak operator EUStream, the transit of Russian gas from Ukraine has remained at the same level over the past two days, when supplies for OMV stopped. But in Austria itself, it decreased but slightly — to 83% of the previous volumes.

Operational data show that on November 16 and 17 from Ukraine to Slovakia received standard volumes through the Velke Kapushany reception point — around 41 million cubic meters per day. But to Austria, through the Baumgarten point, they amounted to 22.5 million cubic meters. Previously, daily deliveries to Austria were about 27 million cubic meters.

OMV confirmed to Bloomberg that Gazprom has stopped deliveries for the company itself, but Russian gas is going to Austria — to the hub. ICIS analyst Tom-Marzek-Manser noted in X that fuel goes to the Baumgarten hub, where both Slovak SPP, Hungarian MVM and Azerbaijani Socar can trade it.

Alexey Grivach, Deputy director of the National Energy Security Fund (NFEB), notes that Gazprom logically stopped supplies for OMV, since the company did not pay. At the same time, he believes, the situation in Austria is uncertain.

"It is not very clear yet why the Austrian side decided on its own initiative to rock the situation or just pretend to rock it. But while deliveries continue as usual and, apart from Friday's speculative effect on prices, nothing has happened," said the deputy director of the FNEB.

For the first time since December 2023, gas prices in Europe exceeded $ 500 per thousand cubic meters. On the morning of November 18, gas supplies for a month in advance at the Dutch TTF hub amounted to $507, and spot quotes at the Austrian Baumgarten hub — about $525. On the latter, prices rose after OMV reports by $ 40.

Last week, Austrian OMV announced that it had won arbitration from Gazprom to stop gas supplies under a German contract and the arbitrators awarded the company compensation of 230 million euros. The company said they were going to receive them immediately — at the expense of the current payment for the supply of Russian gas to Austria. According to various estimates, it could amount to about 213 million euros. OMV did not rule out that Gazprom would stop deliveries, and on Friday, November 15, they announced Gazprom's warning to stop exports on November 16.

OMV receives annually about 5.7 billion cubic meters of Russian gas — 480 million cubic meters per month. Austria is the largest recipient of gas through Ukrainian transit.

Austrian Chancellor Karl Nehammer stated that there is enough gas and alternative sources in the country. OMV warned about possible losses of 25 million euros for a price increase of every 52 euros per thousand cubic meters.