Europe's plan to wean itself off Russian fossil fuels by 2027 has a major flaw
Business InsiderSep 05, 2023
Russia's Gazprom Cuts Gas Deliveries to Austria
Above: A view of the Gas Connect Austria natural gas distribution hub stand at Baumgarten an der March on Nov. 16, 2024 near Vienna, Austria. Image copyright: Christian Bruna/Stringer/Getty Images News via Getty Images
The Facts
Russian gas flows to Austria were reduced by up to 20 percent over the weekend, according to daily reports from the Austrian Gas Grid Management, after Gazprom decided to halt supplies to OMV.
On Friday, an OMV statement revealed Gazprom had informed them that deliveries of natural gas under its Austrian Supply Contract would be suspended the next morning, and eventually reduced to zero.
The Spin
Establishment-critical narrative
One of the last countries in Europe still to rely on cheap pipeline-delivered gas from Russia, Austria has decided to bow to EU pressure and destroy its decades-long relationship with Gazprom. Now, its people will have to pay higher prices to get access to energy as winter approaches. This is what bad policy looks like.
Pro-establishment narrative
It's dead clear that the Kremlin has cut gas supplies to try to blackmail Austria over its support for Ukraine against Russia's war of aggression. Given that Vienna has secured enough gas in storage for this winter, as well as supply of alternative fuel, Austrians may rest assured that this move will backfire.