OMV: 45% of gas company’s gas needs come from non-Russian sources

OMV: 45% of gas company’s gas needs come from non-Russian sources

The Austrian gas company OMV has reserved significant transport capacities from Norway and Italy for the gas year from October 2022 to September 2023. This decision aims to reduce its dependence on Russia, the company announced on Thursday (July 14).

OMV said capacity for 40 terawatt hours (TWh) of natural gas will be available for the next gas year, which will cover 45% of annual gas consumption.

“We have two important goals: First, we have to secure the gas supply for the people of Austria. Second, we want to become less dependent on Russian gas supplies”Austrian Chancellor Karl Nehammer said in a press release.

Booking the pipeline’s new capacity is a big step towards these goals, Nehammer added.

Austrian Energy Minister Leonore Gewessler said this will help diversify gas supply in Austria.

Funds amounting to 100 million euros will be made available each year between 2022 and 2025. They will be used to diversify the purchase of natural gas and to convert installations to alternative operation using other sources of energy.

The reservation was made at the two transfer points Oberkappel and Arnoldstein. Liquefied gas from Italian terminals and natural gas from Norway, among others, can be transported to Austria.

Progress has also been made in gas storage. In fact, OMV’s gas storage facilities are almost 80% full, with a total possible storage volume of 25 TWh.

Source

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