Austria’s gas supply and pricing are expected to remain stable despite the suspension of deliveries from Russia to OMV. E-Control economist Johannes Mayer reassured consumers that the market had anticipated such disruptions, and suppliers had already secured prices for the winter. While those with variable or floating-rate contracts may see a slight increase of one to two euros per month, the overall impact is expected to be minimal.
Gas prices briefly spiked to 47 euros per megawatt-hour on Friday but quickly returned to pre-suspension levels. Mayer emphasized that the suspension will have limited effect on European market prices, noting that OMV is just one customer of Gazprom, and the transit contract via Ukraine remains in place until year’s end.
The long-term outlook, however, remains uncertain, with markets showing signs of nervousness. While Mayer suggested prices would likely remain stable into the fourth quarter of 2025, former OMV CEO Gerhard Roiss warned of potential price hikes and called for the release of national gas reserves to stabilize the market. Energy Minister Leonore Gewessler dismissed this idea, urging caution in using the reserves unnecessarily.
Politically, the suspension has led to criticism from the opposition FPÖ and NEOS, who blame government policies for the situation. The ruling ÖVP, in turn, pointed to the FPÖ’s opposition to energy security measures in Parliament.
Despite the halt, gas from Russia is still flowing through Ukraine, though at a reduced level. OMV has diversified its supply sources and plans to rely on non-Russian gas in the event of further disruptions. The suspension follows an arbitration court ruling, in which OMV was awarded 230 million euros in damages from Gazprom. Chancellor Karl Nehammer reassured the public, stating that Austria’s full gas storage would allow the country to weather the disruption.
