• Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Friday, December 26, 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

Syria to start currency swap on January 1, central bank governor says
Markets

Syria to start currency swap on January 1, central bank governor says

December 25, 2025
Pakistan, ADB sign $730mn pacts for power infrastructure, SOE transformation
Markets

Pakistan, ADB sign $730mn pacts for power infrastructure, SOE transformation

December 25, 2025
Major Gulf markets subdued on soft oil prices
Markets

Major Gulf markets subdued on soft oil prices

December 25, 2025
Dalian iron ore extends gains on easier home buying in Beijing
Markets

Dalian iron ore extends gains on easier home buying in Beijing

December 25, 2025
Shanghai copper hovers below record high as Chinese demand picks up, dollar weakens
Markets

Shanghai copper hovers below record high as Chinese demand picks up, dollar weakens

December 25, 2025
Shanghai stock benchmark hits 1-month high, HK closed for holidays
Markets

Shanghai stock benchmark hits 1-month high, HK closed for holidays

December 25, 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

    48 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.