+
Austria forms commission to explore reducing Russian gas dependency
OIL & GAS

Austria forms commission to explore reducing Russian gas dependency

Austria's energy minister has announced the establishment of a panel of experts tasked with assessing the feasibility of terminating a long-term gas supply agreement between OMV and Gazprom, aimed at reducing the country's reliance on Russian gas. Leonore Gewessler of the Greens, part of a coalition led by Chancellor Karl Nehammer's conservatives, has been vocal about ending the contract that extends until 2040.

While Nehammer's party acknowledges the need to diversify away from Russian gas, tensions within the coalition have escalated ahead of the upcoming parliamentary elections on September 29. As of May, Russia accounted for 90% of Austria's net gas imports, highlighting the urgency of the situation.

OMV has granted the commission access to the contract, which has been closely guarded. Headed by retired judge Irmgard Griss from the liberal Neos party and law professor Andreas Kletecka, the commission includes economists and legal experts. "It is crucial to determine if there are legal avenues to terminate this contract," Griss emphasised during a press conference.

The commission aims to present its initial findings by autumn, with a final report expected by year-end, though timing vis-?-vis the elections remains unspecified. The far-right Freedom Party (FPO), leading in opinion polls, defends Austria's neutrality amidst accusations of pro-Russian leanings from rival parties.

(Source: ET)

Austria's energy minister has announced the establishment of a panel of experts tasked with assessing the feasibility of terminating a long-term gas supply agreement between OMV and Gazprom, aimed at reducing the country's reliance on Russian gas. Leonore Gewessler of the Greens, part of a coalition led by Chancellor Karl Nehammer's conservatives, has been vocal about ending the contract that extends until 2040. While Nehammer's party acknowledges the need to diversify away from Russian gas, tensions within the coalition have escalated ahead of the upcoming parliamentary elections on September 29. As of May, Russia accounted for 90% of Austria's net gas imports, highlighting the urgency of the situation. OMV has granted the commission access to the contract, which has been closely guarded. Headed by retired judge Irmgard Griss from the liberal Neos party and law professor Andreas Kletecka, the commission includes economists and legal experts. It is crucial to determine if there are legal avenues to terminate this contract, Griss emphasised during a press conference. The commission aims to present its initial findings by autumn, with a final report expected by year-end, though timing vis-?-vis the elections remains unspecified. The far-right Freedom Party (FPO), leading in opinion polls, defends Austria's neutrality amidst accusations of pro-Russian leanings from rival parties. (Source: ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code