Russia pumping gas via Ukraine but volumes to Austria cut [CNBC]
OMV AG BEARER SHS S/ADR (OMVKY)
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Source: CNBC
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 tried to reduce its dependence and the Nord Stream gas pipeline to Germany was blown up in 2022. At its peak, Russia was supplying 35% of Europe's gas but since the 2022 war, Gazprom's market share has been lost to Norway, the United States and Qatar. Russian gas giant Gazprom continued to pump steady volumes of gas to Europe via Ukraine on Saturday, but supplies to Austrian energy company OMV were halted hours after Vienna said Russia had given notice it would cut off flows. 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 tried to reduce its dependence and the Nord Stream gas 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 Uk
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