Russia Helps Lift Austria to Ranks of Energy-Exporters
- OMV Says Russian gas giant delivered agreed volumes in 2023
- First time in two decades Austria is a net energy exporter
An OMV refinery near Vienna
Photographer: Joe Klamar/AFP/Getty ImagesThis article is for subscribers only.
Austria exported more energy than it imported for the first time in two decades, with steady natural gas flows from Russia and lower power consumption giving a boost to state-owned companies.
The data underscores the uneven impact of the energy crisis triggered by Russia’s invasion of Ukraine. Even as electricity and gas price shocks forced consumers to reduce consumption, companies including OMV AG and Verbund AG profited by exporting more energy to Austria’s neighbors.