Austria to be cut off from Russian gas from Saturday [Yahoo! Finance]
OMV AG BEARER SHS S/ADR (OMVKY)
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Source: Yahoo! Finance
a development that could signal the end of the last Russian gas supplies to Europe. In a notice published on the central European gas hub platform, Austrian oil and gas company OMV said it had been informed by Gazprom that the Russian gas producer would reduce its deliveries of natural gas to zero from 0500 GMT on Nov. 16. Russian gas supply to OMV via Ukraine was at risk of stopping before the end of the year due to an arbitration case against Gazprom, the company already warned on Thursday. Austria is one of the few European countries still dependent on Russian gas as much of the rest of the continent has reduced imports following Moscow's full-scale invasion of Ukraine in 2022. The volume is 7,400 megawatt hours per hour, which corresponds to approximately 5 terawatt hours per month. Gazprom declined to comment. A deal between Moscow and Kyiv on Russian gas exports through Ukraine to Europe expires at the end of the year in any case. The transit route supplies mainly Au
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