Austria to phase out Russian gas by 2027

Austria's ruling coalition has agreed to incorporate the phase-out of Russian gas by 2027 into the country's new security strategy.

The decision is still in the drafting phase, Caliber.Az reports, citing foreign media.

One reason for Austria's decision to stop using Russian gas is that the funds Moscow receives from fuel sales are used to finance its war against Ukraine.

Additionally, the Austrian government believes that reliance on Russian gas poses a threat to the country's economy.

Recent estimates suggest that Russian natural gas accounts for 80-90% of the total gas volume in Austrian pipelines. Last year, Vienna may have transferred approximately €4 billion to Gazprom.

In this context, Azerbaijan is increasing its gas supplies to Europe, filling the market gap left by Russia, which has dominated for nearly half a century. Starting August 1, Azerbaijani gas from the giant Shah Deniz field in the Caspian Sea began flowing into Slovenia. Previously, Italy, Greece, Bulgaria, Romania, Hungary, and Serbia have started purchasing gas from Azerbaijan. Additionally, Azerbaijani gas is being transported to Georgia and Türkiye.

In 2024, Russian gas continues to flow through pipelines to Hungary, Slovakia, and Austria.