Gazprom Stops Gas Exports to Austria

Russian gas giant Gazprom has cut off gas supplies to Austria amid a contractual dispute with the Austrian company OMV, which recently won an arbitration case worth 230 million euros against Gazprom. Austrian Chancellor Karl Nehammer reassured citizens that the country has sufficient gas storage and alternative supply sources, stating that 'no household will be left without heat.' This decision marks a significant reduction in Russian gas exports to Europe, as the Soviet-era pipeline through Ukraine is expected to close by the end of the year due to Ukraine's refusal to renew transit agreements. Russia has been losing most of its European customers since the conflict in Ukraine began, leading to a diversification of gas supplies from Norway, Qatar, and the U.S. Ukrainian officials assert that Russia is using energy as a weapon, while the EU continues its efforts to reduce dependency on Russian gas altogether. Meanwhile, Germany has also taken steps to prevent Russian LNG from docking at its terminals, emphasizing energy security amid geopolitical tensions.