Vienna International Energy Industry News

EU Extends Sanctions Against Russia

The European Union is extending its economic sanctions against the Russian Federation for the aggression in Ukraine. The sanctions will be extended for a half year now.

January 29, 2023

Schallenberg Warns About Nuclear Weapons on the Anniversary of the TPNW

On the second anniversary of the Treaty on the Prohibition of Nuclear Weapons (TPNW), Austrian Foreign Minister Alexander Schallenberg gave strong warnings about the threats and use of nuclear weapons.

January 22, 2023

EU Grants Austria Subsidies Which Amounts 100 Mio. Euros.

The European Commission will grant Austria 100 million Euros as a measure for the reduction of power consumption approved under the framework for state aid in crises.

January 19, 2023

Fracking Is Causing Tensions in the Austrian Parliament

Fracking has caused tensions in the Austrian parliament. Climate protection Minister Leonore Gewessler from the Green Party tried to pass a law banning Fracking in Austria. However, the party’s coalition partner in the government, the Austrian People's Party (OEVP) declined the law.

January 18, 2023

IAEA Observers Will Remain Permanently in Chernobyl

The International Atomic Energy Agency (IAEA) will establish a permanent observing mission in Tschernobyl. This is to prevent accidents from happening at nuclear reactors.

January 18, 2023

Large Natural Gas Field Found in Austria

The small town of Molln in Upper Austria could make an important contribution to the gas supply of the entire country in the next few years if the conjectures prove true. Test drilling is said to have already taken place, therefore it is known that the gas is of the best quality. The Australian company ADX Energy wants to start drilling for it this spring.

January 16, 2023

Inflation Sank in December to 10,2 Percent

The inflation rate continues to drop in Austria. After a reduction in November to 10,6 percent, inflation dropped even further in December to 10,2 percent. However, experts are slowing the enthusiasm down for the moment.

January 5, 2023

Falling Gas Prices Will Be Visible in Months

Since the beginning of December, gas prices have decreased significantly in the European market. Gas prices went relatively low through control of prices and mild winter temperatures. However, the consumer will feel this decrease in several months.

January 3, 2023

Austria Promotes Energy Research with 17 Million Euros

The Climate and Energy Fund promotes innovations for clean, affordable and reliable energy supply. The aim is to strengthen Austria as a location for innovation and to improve export opportunities for the domestic economy. A total of 17 million euros is available for the program, endowed from the funds of the Ministry of Climate Protection (BMK).

December 29, 2022

Russia Bans Oil Export on Countries with Gas Price Cap

Russia has responded to the west’s decision to cap gas prices as a measure to brake the rising energy prices. This was an expected move as Russian President Vladimir Putin has criticized this cap numerous times.

December 27, 2022

Austrian Government Reviews the Year 2022

Austrian Chancellor Karl Nehammer and Vice-Chancellor Werner Kogler made a review and concluded the year 2022 with a positive and determined outlook for the following year. The subjects of the past year were the recovery from the pandemic, the energy crisis, inflation and the Russian invasion of Ukraine.

December 25, 2022

Abu Dhabi-based ADNOC Acquires OMV Shares from Sovereign Wealth Fund Mubadala

There is a change in the ownership structure of the Austrian oil and gas group OMV. Long-time core shareholder Mubadala, Abu Dhabi's sovereign wealth fund, sells its 24.9 percent stake in OMV to Abu Dhabi National Oil Company (ADNOC), also a state-owned company. The state holding company ÖBAG announced that it had been informed of the change in ownership.

December 23, 2022

Gas Pipeline Explodes in Russia

A Russian gas pipeline, which also exports gas to Austria, exploded while repair work was being done there. The explosion occurred in the Chuvashia region and killed three people.

December 20, 2022

Austrian Government Will Expand Subsidies on Housing and Heating

The Austrian government wants to challenge the rising energy prices and help low-income persons by subsidizing their home and their heating. People who are eligible for those subsidies can get up to 330 Euros.

December 15, 2022

OPEC Plus Marks Sixth Anniversary

The Declaration of Cooperation (DoC) between OPEC member countries and 10 non-OPEC oil-producing countries turned six years old. As the oil cartel engaged in diplomatic celebrations, OPEC reaffirmed its expectations for global oil demand in 2023.

December 14, 2022

OPEC Plus Sticks to Production Strategy

The OPEC+ oil alliance is sticking to its current production strategy for the time being. EU sanctions against Russia's oil revenues will apply from tomorrow. The OPEC+ countries have nevertheless confirmed their previous oil production targets. However, an expert committee wants to review the production strategy every two months.

December 4, 2022

New Online Tool in Austria Should Help You to Save Electricity

A new electricity-saving tool is available online, where it is visible how you can save electricity depending on the time of the day. It shows you when it makes more sense to turn the light on.

December 1, 2022

Beginning for Electricity Price Brake in Austria

Without further application, the electricity price brake comes into effect for every household with an existing electricity contract. The electricity cost brake is intended to counteract the current price increases for electricity. This will be visible on the electricity bill. According to the government, households can save an average of 500 euros per year.

November 30, 2022

Vienna Landmarks Switch Light Off Earlier

Due to the energy crisis, the lighting of many Viennese landmarks and institutions will be switched off earlier - for example at St. Stephen's Cathedral and Schönbrunn Palace. At the Hofburg, on the other hand, the lighting concept is still being tweaked to "avoid security problems".

November 28, 2022

Austria Supports Expansion of Croatian LNG Terminal Krk

Croatia wants to expand its terminal for liquefied natural gas (LNG) on the Adriatic island of Krk far beyond its own needs and develop it into a hub for gas supply in the region - gas is also to flow from there to Austria and Germany in the future. At a meeting on Krk, Croatia's Prime Minister Andrej Plenkovic, Austria's Chancellor Karl Nehammer and Bavaria's Minister President Markus Söder agreed to support each other in strengthening energy security, diversifying energy sources and ensuring the security of supply with natural gas and hydrogen.

November 24, 2022

EU Criticizes Austria's Energy Measures as "Not Goal-Oriented"

In the opinion of the EU Commission, Austria's aid measures against high energy prices are "not goal-oriented" enough. The EU authority said today that the federal government had quickly adopted energy policy measures.

November 22, 2022

Explosions at Zaporizhzhya Nuclear Power Plant Worry IAEA

There have been several powerful explosions at the Ukrainian nuclear power plant Zaporizhzhya, according to the International Atomic Energy Agency (IAEA). IAEA experts on site had reported dozens of impacts near and on the site of Europe's largest nuclear facility.

November 20, 2022

What are the Seibersdorf Laboratories?

Nuclear technologies and applications should be safely researched under international supervision. In Seibersdorf, Austria, the International Atomic Energy Agency maintains eight nuclear applications laboratories. Read on to find out more about the Seibersdorf Laboratories!

November 17, 2022

Austria Awards State Prize for Innovation

The State Prize Innovation 2022 from the Austrian Ministry of Labor and Economy goes to the Lower Austrian company DSM Austria GmbH. With their innovation, they make an important contribution to the safe and healthy nutrition of animals and humans.

November 16, 2022

Vienna Plans to Build its First Geothermal Plant by 2026

A geothermal plant, Vienna's first, is to supply 20,000 households with emission-free district heating. Wien Energie wants to set a milestone toward a climate-neutral city by 2026. An important milestone on the path to a climate-neutral major city is the use of deep geothermal energy. Wien Energie has now presented the concrete plans for this at a press conference with Peter Hanke, City Councillor for Economic Affairs.

November 14, 2022

IAEA at the UN Climate Summit in Egypt

The Vienna-based International Atomic Energy Agency is also well-represented at the World Climate Change Conference in Sharm El Sheikh, Egypt. Between the energy crisis and climate targets, nuclear energy is regaining importance in several countries, and for the agency, the task is to convince.

November 10, 2022

Austrian Chamber of Commerce Demands Acceleration of Energy Transition with Faster Approval Procedures

The EU Commission's emergency regulation is intended to accelerate the expansion of additional energy capacities, with the draft also to be extended to other areas of energy infrastructure. The head of the Austrian Chamber of Commerce, Karlheinz Kopf, demands acceleration of the Energy Transition with faster approval procedures and eased bureaucracy.

November 10, 2022

What is the Alps-Adriatic Economic Network?

Since 2007, the Network of Chambers of Commerce, Industry, Crafts, Agriculture and Economy of the New Alpe Adria (NAAN) has been working to deepen economic relations. It now comprises - with the new addition of Bolzano - ten chambers from Austria, Italy, Slovenia and Croatia. According to the Austrian Chamber of Commerce, with one million member businesses, NAAN is making rapid progress toward becoming an EU Alps-Adriatic macroregion. Read more to find out about the project.

November 7, 2022

Wien Energie Brings Special Energy Tariff for Small Businesses

Given the high energy costs, companies are also coming under pressure. In Vienna, a new tariff for small businesses will start in November, which offers a 12-month price guarantee and a discount for commitment. This new tariff is now officially promoted by City Councillor for Economic Affairs Peter Hanke.

November 1, 2022

Environment Ministry Opens New Information Portal on the Energy Situation in Austria

How full are Austria's gas storage facilities and how high is Austria's current electricity consumption? A new website of the Austrian Ministry of Climate Change lists a variety of key figures and data on Austria's energy supply. This is intended to present the latest data to the population in an understandable and effective way.

October 29, 2022

Gas Supply Security: Austrian Chancellor Travels to the United Arab Emirates

In order to secure gas supplies for the next few years, an Austrian delegation, led by Chancellor Karl Nehammer, travelled to Saudi Arabia to negotiate future gas supplies. How much liquefied natural gas could be delivered to Austria in the coming years can be read in the following article.

October 29, 2022

City of Vienna Establishes Energy Crisis Unit

The City of Vienna established an advisory committee on energy supply, which will work as a crisis unit on energy supply issues. Together with the crisis unit that has existed since the Covid pandemic, it is to accompany the preparations for the winter and make proposals for measures to secure energy supplies.

October 17, 2022

Austria Calls for Common European Gas Price Cap at EU Summit in Prague

At the first meeting of the "European Political Community", the informal summit of EU heads of state and government in Prague, Austria attracted particular attention by wanting to define a common EU gas price cap. For Austria's Chancellor Karl Nehammer it was clear in Prague that there would be "no embargo via the back door" when it comes to Russian gas.

October 11, 2022

WKO Calls for Coordinated Action to Combat Energy Crisis Ahead of EU Summit

The Austrian Federal Economic Chamber (WKO) recently called for a joint Europe-wide approach to combating the energy crisis. In doing so, it criticised the EU with its cautious attitude and national solo efforts.

October 8, 2022

OPEC Plus Aims to Raise Oil Price

According to insiders, OPEC+ is planning to reduce the amount of oil produced in order to increase the price of oil. This decision is to be published in Vienna on 5 October. In addition, the main OPEC organisation is planning to hold the 8th OPEC International Seminar at the Hofburg in Vienna next year. This is one of the premier events in the energy industry calendar.

October 3, 2022

International Atomic Energy Agency and its 66th General Conference

Many issues were discussed at the 66th General Conference of the IAEA, held in Vienna. The theme of "Global Cooperation in the Nuclear Field" focused not only on nuclear security, the future of nuclear technologies, and the role of the IAEA but also on global nuclear security issues, such as Iran's and North Korea's nuclear programs as well as recent Russian nuclear threats.

October 1, 2022

EU Capitals Make Important Contribution to EU Climate Targets

The 11th Annual Dialogue of EU Capitals with the European Commission took place recently. A representative of the City of Vienna was also present. Read on to find out what goals and issues the EU capitals are currently facing.

September 30, 2022

OPEC Celebrates its 62nd Anniversary

The Organisation of the Petroleum Exporting Countries celebrated the 62nd anniversary of its founding this week.

September 16, 2022

State of the EU 2022 Speech: Austria Wants to Usher in a Modern EU Future

The State of the EU address by Commission President Ursula von der Leyen addressed many acute issues, including the war in Ukraine and its international repercussions. Austria's Minister for Europe responded.

September 15, 2022

Strengthening Italian-Austrian Economic Relations: Italy Receives Austrian Federal President

With a delegation of business representatives, Austria's Federal President, Alexander Van der Bellen, visited Rome this week. The delegation of Austrian entrepreneurs was led by Harald Mahrer, President of the Austrian Federal Economic Chamber. A major focus of the companies accompanying the delegation was renewable energies, where Italy as a major trading partner is expected to offer some lucrative contracts.

September 15, 2022

11 Tips on How to Save Electricity in Winter

The Austrian government has set a goal to reduce its current electricity consumption by 11 percent. To accomplish this, the Austrian government recently presented 11 measures for private households.

September 14, 2022

Lufthansa and OMV Cooperate Over Sustainable Aviation Fuel

OMV, the international integrated oil, gas and chemical company headquartered in Vienna, and Lufthansa Group are expanding a partnership on sustainable aviation fuels. Germany's Lufthansa plans to stock up on sustainable aviation fuel (SAF) from OMV in the future.

September 13, 2022

Austrian Gas Storage Facilities Over 70 Percent Full

Austria's gas storage facilities are already more than 70 percent full. The contingency plans to secure gas supplies that were put into action as a result of the war in Ukraine and the ongoing energy crisis go according to plan as announced by Austria's government.

September 12, 2022

Austrian Government has Agreed on Electricity Price Brake

The Austrian federal government has agreed on the long-discussed "electricity price brake" to cushion the high cost of energy. According to information from the federal government, each household will pay a lower electricity price for that share of electricity consumption which corresponds to 80 percent of the average consumption of an Austrian household in the previous year.

September 7, 2022

IAEA Warns of Nuclear Accident at Ukraine's Zaporizhzhya Nuclear Power Plant

The IAEA is highly alarmed by conditions at the Russian-occupied Ukrainian nuclear power plant in Zaporizhzhya, where staff overload and central warning and alarm systems threaten human error that could trigger a nuclear accident. To secure Europe's largest nuclear power plant, immediate measures, including a safety zone around the plant, are to be introduced to prevent a disaster.

September 6, 2022

OPEC+ Decides on Slight Cut in Production

The alliance of oil exporting countries cuts production. Saudi Arabia and Russia are sending a clear signal to the West. With the cutback, the hopes of oil importers in Europe that they would at least be relieved of the burden of crude oil in the face of rapidly rising gas prices are fading.

September 5, 2022

IAEA Will Maintain a Continued Presence at Ukraine's Zaporizhzhya Nuclear Power Plant

Experts from the International Atomic Energy Agency (IAEA) began inspecting Ukraine's Zaporizhzhya nuclear power. As IAEA chief Rafael Grossi said on Twitter, some of his colleagues will stay at the power plant site for several days and establish a continued IAEA presence.

September 1, 2022

Austria's President Van der Bellen Brings in Experts on Energy and Climate Issues as Advisors

Ex-Verbund boss Wolfgang Anzengruber and Wifo economist Angela Köppl are volunteering their expertise to Austrian President Van der Bellen. According to the Federal President's Office, the war in Ukraine and inflation, as well as the slowly emerging energy crisis in Europe, call for expert advice on energy economics and climate issues.

August 31, 2022

Crisis Around Viennese Energy Supply Company "Wien Energie"

Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.

August 30, 2022

IAEA Finally Sends Assistance Mission to Zaporizhzhya Nuclear Power

After months of negotiations and back and forth, the IAEA Support and Assistance Mission to the Zaporizhzhya Nuclear Power Plant in Ukraine is finally setting off from Vienna. The mission itself is headed by International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi and the Agency is proud of the diplomatic success.

August 29, 2022