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Austria's Growing Potential: MCF Energy's Welchau Gas Prospect
Austria could be on the verge of a breakthrough in its quest for energy security with the announcement of further developments regarding the Welchau gas prospect. MCF Energy Ltd. has confirmed plans to commence drilling at the Welchau site in Austria during Q4 2023.
October 18, 2023 · Updated: October 18, 2023; 20:00
EU Parliament President Metsola Brings European Issues to Austrian Parliament
EU Parliament President Metsola will address the Austrian National Council on European affairs, participating in a National Council resolution.
May 18, 2023
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
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
Germany and Austria Seek Stronger Cooperation on Energy Security
Germany and Austria, seeking closer cooperation between the two countries in the current energy crisis, signed a joint declaration this week to mitigate the looming energy crisis.
July 15, 2022
Why Germany and Austria Are More Dependent on China for Strategic Raw Materials than on Russian Gas
China has established global dominance over many of the strategic raw materials needed to be competitive in the economy of the future. Read how Austria, Germany, and others have arguably become more dependent on these materials from China than on Russian gas.
July 5, 2022
OPEC Releases Annual Flagship Publication in Vienna
This week, the Organisation of Petroleum Exporting Countries (OPEC) presented its Annual Statistical Bulletin (ASB) 2022. This report, which presents a large number of statistics and data on oil market developments in recent years, is the organisation's most important publication alongside the World Oil Outlook.
June 28, 2022
Europe's Energy Dilemma Requiring Austria and Germany to Rethink in Wake of Russian Aggression
Due to the Russian aggression against Ukraine, Europe has to face new questions about energy policy, which had been known for many years but were largely ignored and deferred. The much-discussed gas embargo in recent weeks is to further intensify the sanctions against Russia and its economy. Read more about the current situation.
April 6, 2022
Energy Supply: Liquefied Natural Gas from Qatar, Instead of Pipeline Gas from Russia
Chancellor Nehammer visited the United Arab Emirates (UAE) and Qatar with the intention of lessening Austria's dependency on Russian natural gas for energy. Read about the chancellor's visit and how liquefied natural gas could help solve this issue.
March 11, 2022
How Gazprom Helps the Kremlin to Manipulate Austria
The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.
March 8, 2022
Austria's Reaction to Putin's Disrespect for the Territorial Integrity and Sovereignty of Eastern Ukraine
Following President Putin's decision to recognize the independence of Luhansk and Donetsk in the Donbas region of Ukraine and to send "peacekeeping troops" to these areas, the Austrian government's Crisis Cabinet met to discuss how to respond. Read what Chancellor Nehammer said about the act of Russian aggression and what Austria will do.
February 22, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
Austria Promises Legal Action After EU Commission's Nuclear Energy Decision
Austria has vowed to take legal action against the European Commission after it decided to include nuclear energy and natural gas as sustainable investments under the EU Taxonomy Regulation. Read what the Austrian president, chancellor, and climate minister said about this decision.
February 3, 2022
Austria's Position on the Russia-Ukraine Conflict
Despite ongoing diplomatic efforts, tensions between Russia and Ukraine remain high as Russia still has thousands of troops stationed on the Ukrainian border. Read Austria's position on the issue.
January 22, 2022
Joint Statement by Greece and Austria
Greek Prime Minister Mitsotakis and Austrian Chancellor Kurz have issued a joint statement that deals with European refugee policy and the ongoing dispute with Turkey over the natural gas deposit in the Mediterranean.
September 9, 2020
Schallenberg: "The EU Has Reached a Turning Point in the Relations With Turkey"
Austria's Foreign Minister Schallenberg explains the current relationship between the European Union and Turkey. The recent developments in the easter Mediterranean are testing the relation once again.
September 1, 2020
Bulgaria: South Stream Offers 6,000 New Jobs
South Stream Bulgaria´s CEO Georgi Gegov stresses the economic effect of the new gas pipeline from Russia to Western Europe.
July 18, 2013
Spanish and Polish Prime Minister Support EU-US Free Trade Agreement
On the occasion of a state visit in Madrid, Poland´s Prime Minister Donald Tusk declared that the free trade agreement between the U.S. and the EU would be a driver for economic growth. The EU must strengthen its energy strategy, Tusk said.
July 16, 2013
OMV: Major Gas Discovery in Australia
Successful appraisal of the Zola gas discovery offshore Australia.
July 16, 2013
Ukraine: Deal With IMF to be Cut in Summer
The visit of IMF mission to Kyiv did not bring the immediate results. Raiffeisen Research expects the negotiations to be rather prolonged.
February 20, 2013
Nabucco Pipeline Is Taking Shape Slowly
The natural gas pipeline commences Front End Engineering and Design services for Nabucco West project.
January 28, 2013
Bayerngas Leaves Nabucco
The German natural gas company does not want to join the pipeline project.
January 28, 2013
Nabucco: Decision Will Be Announced by Mid-2013
The Shah Deniz II consortium will announce its decision on the pipeline project in June, Nabucco´s CEO Reinhard Mitschek says.
January 21, 2013
Strong Political Support for Nabucco
Nabucco countries acknowledge the ministerial declaration extending legal and regulatory framework to Nabucco West.
January 19, 2013
Serbia: Dinkic Underlines Importance of South Stream Pipeline
The South Stream pipeline is a “national project” and of vital interest for Serbia, Minister of Economics Mladjan Dinkic says.
January 19, 2013
Croatia Finds Compromise with Gazprom
Croatia will be connected with the South Stream pipeline. The construction costs will total € 60m.
January 17, 2013
Shah Deniz Consortium to Enter Nabucco Project
Today, the Nabucco´s shareholders and the Shah Deniz Consortium agreed on a joint declaration.
January 10, 2013
OMV: Final Investment Decision for Aasta Hansteen Gas Field
World’s largest floating spar platform in the Northern Norwegian Sea: Final investment decision taken to develop the promising Aasta Hansteen gas field including new pipeline infrastructure.
January 9, 2013
New Hope for Nabucco
The gas pipeline project is said to get a new major shareholder. In case of the entry of the Shah Deniz II consortium, Nabucco´s utilization would be secured.
December 22, 2012
Nabucco: Official Approval in Bulgaria
Bulgarian Ministry approves Nabucco National Environmental Impact Assessment Report.
December 22, 2012
OMV Focuses on Black Sea and North Sea
By 2020, the Austrian oil and gas group will ship natural gas from the Black Sea to Austria. Investments in the North Sea region are being fostered.
November 24, 2012
OMV Underlines Necessity of Shale Gas Production
The Austrian oil and gas group stresses that shale gas may reduce the dependency on Russian natural gas.
November 20, 2012
Croatia Does not Participate in South Stream Pipeline
The Russian gas pipeline South Stream will not run across Croatia. Initially, Croatia was viewed as transit country.
November 5, 2012
South Stream Pipeline: Gazprom Concludes Contract with Hungary
The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.
November 2, 2012
„Nabucco Is not Dead at All“
The EU-Commissioner of Energy Günther Oettinger is optimistic that Nabucco will be successful. According to Austria´s Minister of Economics Reinhold Mitterlehner, the prospects of success are “50+”.
October 9, 2012
„Austria Does Not Need Shale Gas“
Gerhard Roiss, CEO of Austrian OMV, thinks that renouncing on shale gas will be expensive.
October 1, 2012
OMV Considers Joining Tanap
The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.
September 25, 2012
Total, OMV and Repsol pay € 48m for Test Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. The consortium has paid € 48m to Bulgaria.
September 22, 2012
OMV Gives Up Fracking Plans
The Austrian oil and gas company announced that there will be no shale gas production in Austria.
September 17, 2012
OMV Sells 15% Stake in CEGH to Slovak Eurstream
The Austrian oil company reduced its share in Central European Gas Hub from 80% to 65%.
September 14, 2012
OMV and Total Start Gas Drillings in Bulgaria´s Black Sea
Bulgaria wants to reduce its dependence on Russian energy. Together with the French Total Group and the Spanish Repsol Group, Austrian OMV begins test gas drillings in the Bulgarian Black Sea.
September 1, 2012
Croatia Said to Become Part of South Stream Pipeline
Good news for Croatia: Gazprom and Plinacro are said to have agreed on a natural gas pipeline across Croatia. The pipeline may enhance employment and reduce natural gas costs.
August 27, 2012
South Stream Pipeline May Run Across Croatia
Instead of Hungary, the pipeline project South Stream may pass through Croatia. Gazprom currently negotiates with the Croatian operator Plinacro.
August 20, 2012
OMV Starts Gas Drillings in Ukraine
Together with the U.S. oils group ExxonMobil, the Dutch-British Shell Group, and the Ukrainian Nadra Ukrayny, OMV´s subsidiary Petrom starts natural gas drillings in the Ukrainian Black Sea region.
August 17, 2012
OMV to Focus on Gas Business
The Austrian oil and gas company intends to exploit natural gas in proximity to Europe. The Black Sea and the North Sea are the strategically most important areas.
August 8, 2012
New Hope for Nabucco West
The Aseri Minister of Energy Natik Aliyev thinks that Nabucco West would be better than the rival project TAP.
July 27, 2012
Roiss Claims Energy Strategy
Gerhard Roiss, CEO of the Austrian energy company OMV, warns of a withdrawal of the energy-intensive industry tot he U.S.
July 26, 2012
OMV Resumes Production Works in Yemen
The Austrian oil and gas group may get oil from Yemen soon. In Bulgaria, OMV participates in exploitation works.
July 17, 2012
Vienna Stock Exchange: New Trading System for Gas Exchange
Trayport ETS: New trading system on CEGH Gas Exchange of the Vienna Stock Exchange.
July 6, 2012
Austrian Environmental Minister Against Fracking
Nikolaus Berlakovich thinks that shale gas is no alternative. Fracking would be „extremely environmentally harmful“.
July 3, 2012
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