Russian gas through back doors: Austrians pay the price!

Russian gas through back doors: Austrians pay the price!

In a surprising revelation, it is revealed that despite the halt to official gas deliveries from Russia to Austria, Russian gas continues to flow into Europe. According to reports from Mercury, the Austrian energy company OMV stopped gas deliveries to Gazprom on November 16, 2024. But like a devious game of chess, these quantities apparently find their way back onto the market via a detour. Although OMV officially no longer has access, the previously supplied gas is being sold frantically to other buyers.

According to information from Euronews There are indications that Slovakia is playing a key role here by continuing to buy up Russian supplies and possibly selling them back. SPP, the Slovak state-owned company, confirmed that it is still sourcing gas from Russia, indicating continued interest within the EU. Analysts agree that Russian gas remains cheaper than from other sources, which influences purchasing decisions. This raises questions about how future energy relations between Russia and the EU might develop, especially as key transit agreements are about to expire.

Strategic network of buyers

The developments make it clear that energy needs in Europe remain high, even if there are perceived tensions. Czech imports, most of which go through Slovakia, are showing a sharp increase, even though there is no direct contract with Gazprom. Traders speculate that this is Russian-supplied gas that is transferred via Turkstream or Ukraine. Such detours could become more important in the future due to more favorable transit conditions.