• Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Friday, December 5, 2025
Daily The Business
  • Login
No Result
View All Result
DTB
No Result
View All Result
DTB

Russia cuts gas to Austria in payment dispute, keeps EU flows

November 17, 2024
in Markets
Russia cuts gas to Austria in payment dispute, keeps EU flows
Share on FacebookShare on TwitterWhatsapp

MOSCOW: Russia halted gas supplies to Austria on Saturday in a dispute over payments but was still pumping steady volumes to Europe via Ukraine after remaining buyers asked for more gas.

Russia, which before the Ukraine war was the biggest single supplier of natural gas to Europe, has lost almost all of its European customers as the EU tries to reduce its dependence and after the Nord Stream pipeline to Germany was blown up in 2022.

Now one of the last main Russian gas routes to Europe – the Soviet-era Urengoy-Pomary-Uzhgorod pipeline via Ukraine – is due to shut at the end of this year, as Kyiv does not want to extend a five-year transit agreement which brings northern Siberian gas to Slovakia, the Czech Republic and Austria.

Austria said on Friday that Moscow had informed it that the gas would be shut off following an arbitration award to OMV , Austria’s biggest energy supplier, over unfulfilled supplies to its German unit by Russia’s state firm Gazprom .

On Saturday, Austria’s energy regulator E-Control said Gazprom’s deliveries to OMV had stopped at 6 a.m. (0500 GMT), adding that prices and supplies to Austrian customers were steady.

OMV is seeking to recover the 230 million euro ($242 million) damages, awarded during arbitration, from Gazprom by offsetting the claim against invoices for deliveries to Austria – essentially stopping some payments for gas supplied via Ukraine.

Gazprom declined to comment on the suspension of flows to Austria, but the Russian company said it would send 42.4 million cubic metres of gas to Europe via Ukraine on Saturday, the same volume as on Friday and during every other day in recent months.

Slovak state-owned firm SPP said it was still receiving gas from Russia and added others were buying more.

Tags: AustriaEUGasgas supplyRussiaRussian gas
Share15Tweet10Send
Previous Post

Objections raised on Amendment to Petroleum Act 1934

Next Post

Prices of kitchen items show upward trend

Related Posts

Wall St futures steady ahead of key inflation report
Markets

Wall St futures steady ahead of key inflation report

December 5, 2025
Copper hits record high, heads for weekly jump after Citi lifts outlook
Markets

Copper hits record high, heads for weekly jump after Citi lifts outlook

December 5, 2025
Rupee records gain against US dollar
Markets

Rupee records gain against US dollar

December 5, 2025
Bullish momentum at bourse, KSE-100 gains over 1,100 points in early trade
Markets

Bullish momentum at bourse, KSE-100 gains over 500 points during intra-day

December 5, 2025
Gold price gains Rs3,000 per tola in Pakistan
Markets

Gold price gains Rs3,000 per tola in Pakistan

December 5, 2025
Ford recalls nearly 109,000 vehicles, NHTSA says
Markets

Ford recalls nearly 109,000 vehicles, NHTSA says

December 5, 2025

Popular Post

  • FRSHAR Mail

    FRSHAR Mail set to redefine secure communication, data privacy

    126 shares
    Share 50 Tweet 32
  • How to avoid buyer’s remorse when raising venture capital

    33 shares
    Share 337 Tweet 211
  • Microsoft to pay off cloud industry group to end EU antitrust complaint

    54 shares
    Share 22 Tweet 14
  • Capacity utilisation of Pakistan’s cement industry drops to lowest on record

    47 shares
    Share 19 Tweet 12
  • SingTel annual profit more than halves on $2.3bn impairment charge

    47 shares
    Share 19 Tweet 12
American Dollar Exchange Rate
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Write us: info@dailythebusiness.com

© 2021 Daily The Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy

© 2021 Daily The Business

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.