One of Vienna's largest energy companies refuses to buy Russian gas - Bloomberg

The Austrian company Wien Energie GmbH, which provides electricity to two million people in and around Vienna, has announced a complete rejection of Russian fuel starting next year. Writes UNN with reference to Bloomberg.

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Wien Energie GmbH, which supplies energy to two million people in and around Vienna, has announced that it will no longer need Russian fuel from next year. It will receive 10 terawatt-hours of energy from alternative suppliers such as North Africa, the North Sea and other sources of liquefied natural gas, which is about 12% of total consumption in Austria.

Due to Russia's aggressive war, independence from Russian gas is crucial for security of supply. In 2025, all households, commercial customers and power plants will run on non-Russian gas

The announcement may ease pressure on gas markets as traders prepare for a possible suspension of Russian gas supplies through Ukraine in January. In the first half of the year, Austria received more than half of its gas through this route.

Although Wien Energie will continue to buy gas through the Central European Gas Hub, the company will require traders to guarantee that the fuel does not come from Russia. For this purpose, blockchain-based certificates of origin will be used, which cannot be counterfeited.

The company has also promised not to raise prices for consumers, even if alternative supplies are slightly more expensive than Russian gas, said CEO Michael Streble.

Austria has long maintained strong energy ties with Russia, extending a long-term gas supply contract until 2040 in 2018. The state-owned OMV AG, the country's largest fossil fuel producer, has deep historical roots in post-war agreements on Austrian neutrality in exchange for control of Soviet energy assets.

Recall 

Russian President Vladimir Putin's project to build a new gas pipeline and increase gas supplies to China has been suspended for an unknown period of time.