By Jason Howitt, Thomas Askert and Dmitry Zhdanikov
BERLIN/PRAGUE/LONDON (Reuters) – Russian gas flows to Austria were suspended for a second day on Sunday due to a price dispute, but other buyers in Europe stepped in to snap up unsold quantities, companies and sources said. And the data shows that.
Russia, which was Europe’s largest single supplier of gas before the Ukraine conflict, has lost most of its buyers on the continent as the EU seeks to reduce its dependence on Russian energy.
Russian gas is still sold in significant volumes to Slovakia and Hungary, as well as the Czech Republic, which does not have a direct contract, while smaller volumes go to Italy and Serbia.
Gazprom (MCX: ) halted supplies to OMV on Saturday after the Austrian company threatened to seize some of the Russian state firm’s gas as compensation for an arbitration award it won over a contract dispute.
Flows to Austria remained suspended on Sunday but daily supplies via Ukraine – the main transit route for Russian gas to the EU – will remain at 42.4 mcm, Gazprom confirmed without further comment, roughly the same volume as every It is for another day. last year
Before the cut-off, Austria was receiving 17 MCM and these volumes are now finding new buyers in Europe.
Slovak state-owned firm SPP said it was still getting gas from Russia and suggested others were buying more because there was still “huge interest” in Russian gas in Europe.
A source familiar with Russian gas supplies to Europe said that Russian gas is still cheaper than many other sources and that Austrian volumes have therefore been quickly resold.
He declined to name the companies that had previously bought gas for Austria.
Austria has said it has enough gas reserves to cover gas shortages and may import via Italy or Germany in the future.
last day
At its peak, Russia supplied 35% of Europe’s gas but since the start of the Ukraine war in 2022, Gazprom has lost market share to Norway, the US and Qatar.
The company’s remaining flow to Europe along the Soviet-era pipeline through Ukraine, due to shut down later this year, may not last long because Kiev transit does not want to extend the contract.
The Yamal-Europe pipeline through Belarus has already been shut down following the conflict, while Russia blamed the US and Britain for explosions under the Baltic Sea that blocked the Nord Stream route.
Washington and London have denied that they blew up the pipelines. The Wall Street Journal reported that the Ukrainian authorities were behind the attack. Kaif has denied this.
If Ukraine shuts down the gas transit route, Russia’s main supply will go only to Hungary, which receives most of it via a pipeline through Turkey.
