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Europe’s Gas Flows Resume After Austrian Blast Rattled Markets

  • Baumgarten transit lines came onstream again before midnight
  • Transit pipelines to Italy, Hungary ‘100% operational’ again
Bloomberg business news

Pipeline Crack, Austria Explosion Roil Markets

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Natural gas flows resumed overnight in Europe after an explosion at an Austrian hub threatened supplies already pinched by a closed pipeline in the North Sea and a cold snap across the continent.

Oil company OMV AG, which controls the Baumgarten gas hub, managed to divert international transit flows and restored supplies to Italy, Germany and Hungary before midnight, the hub’s managing director said on Wednesday.