Austria forms commission to explore reducing Russian gas dependency

10 Jul 2024 CW Team

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)

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..