EurOil: Austria appoints commission to look at ending Russian gas contract

Austrian Energy Minister Leonore Gewessler has appointed a commission of experts to explore whether Austria’s OMV can get out of a long-term deal with Gazprom for Russian gas, she announced on July 9.

Ahead of parliamentary elections this September, Austria’s conservative-led coalition has vowed to reduce the country’s dependence on Russian gas. Austria is among a handful of EU countries still reliant on Russian pipeline gas, and efforts to cut supply are hindered by the fact that OMV is locked into a take-or-pay contract that does not expire until 2040. 

Austria relied on Russia for 90% by its net gas imports in May, according to Reuters.

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