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Austria will increase its strategic gas reserves by 58% to reduce its dependence on Russia

19 May 2022
Oil&Gas
energynomics

The Austrian government decided on Wednesday to increase its strategic gas reserves to 58.5% – enough to cover consumption for two winter months – to reduce dependence on Russia, having in mind a possible supply shutdown, EFE reports.

This plan, which must be approved by Parliament, also provides for the connection of all storage facilities to the Austrian gas pipeline network and the abandonment of capacity that companies do not use.

In this way, the strategic gas reserve will increase by 7.4 TWh, from 12.6 TWh currently to 20 TWh (plus 58.7%), which will cover consumption for two winter months.

The additional volume of gas from the Austrian strategic reserve will not come from Russian sources, the aim being to reduce dependence on Russia, from where 80% of the imported quantity comes.

“The measure will significantly reduce dependence on Russian gas,” Energy Minister Leonore Gewessler told the Cabinet, according to Agerpres.

Austria is trying to reduce its dependence on Russia after the invasion of Ukraine and the threats of a possible supply shutdown, although the government has stressed that finding alternative sources will take several years.

Austria currently has 25 TWh of gas in storage, including from private companies, which represents 26% of its total storage capacity, and is projected to increase storage to 80% in the coming months, according to its plan on dealing with a possible gas shortage.

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