Austria seizes €230 million worth of Russian gas – Reuters

Austrian oil and gas company OMV has confiscated Russian gas as payment for an arbitration decision, according to which Gazprom was to reimburse €230 million.

As reported by Reuters, OMV was one of the last importers of Russian gas in Europe after Gazprom lost practically all of its clients as a result of Russia's full-scale invasion of Ukraine in 2022.

On 13 November, OMV said that it had won an arbitration process against Gazprom for €230 million in connection with the irregular deliveries to its German unit and will take immediate action to enforce the ruling. Gazprom cut off its supply to the Austrian firm three days later.

According to three Reuters sources close to Gazprom and OMV, the Austrian company confiscated gas supplies totalling €230 million in October.

A source close to Gazprom reported that this was the first time a customer from the European Union did not pay for gas supplies.

Obtaining gas supplies from Gazprom in October was the company's last chance to earn money under the arbitration judgement if Ukraine stopped transiting Russian gas in January, according to a source close to OMV.

A source close to Gazprom claims the Russian monopolist company viewed gas confiscation as a non-payment and hence cut off supply.

Chancellor Karl Nehammer stressed that Austria will not be left without natural gas during the heating season after Russia’s Gazprom stops supplying gas to the country.