Diversification of gas transportation routes and the construction of the South Stream gas pipeline are in line with present-day international trends, Austrian Minister of Economy Reinhold Mitterlehner said.
“The current international trends indicate that in the long term we should diversify not only the sources of energy but also its supply routes. We will come closer to this goal when the South Stream gas pipeline comes to Baumgartner. The project will not only ensure Austria’s energy security but will also strengthen its positions as a European energy hub, which is provided for in our energy strategy,” he said after signing a memorandum on the construction of a section of the pipeline in Austria.
Austria is already the fourth largest producer and consumer of renewable energy in the European Union, but it takes time to restructure the energy sector. Gas will serve as a transitional fuel. Over the past several years, additional gas pipelines such as Nord Stream were built and underground gas storage facilities increased their capacities. But in order to become less dependent on non-renewable energy in the future, Austria has to improve energy efficiency and keep developing renewable energy production, the minister said.
Austria has made the decision to rejoin the South Stream project. Initially, in 2010, Austrian OMV signed a basic agreement on cooperation with Russia’s Gazprom. Subsequently it was reported that OMV was engaged in negotiations with Gazprom on a contract for the supply of gas by the South Stream pipeline in the amount of 6 billion cubic metres a year.
However later OMV joined the alternative Nabucco project, which was supposed to bring gas to Austria and Germany from CIS countries. When the project was suspended, Gazprom began considering Austria’s participation in it again, but Italy remains the final destination for the time being.
“The current international trends indicate that in the long term we should diversify not only the sources of energy but also its supply routes. We will come closer to this goal when the South Stream gas pipeline comes to Baumgartner. The project will not only ensure Austria’s energy security but will also strengthen its positions as a European energy hub, which is provided for in our energy strategy,” he said after signing a memorandum on the construction of a section of the pipeline in Austria.
Austria is already the fourth largest producer and consumer of renewable energy in the European Union, but it takes time to restructure the energy sector. Gas will serve as a transitional fuel. Over the past several years, additional gas pipelines such as Nord Stream were built and underground gas storage facilities increased their capacities. But in order to become less dependent on non-renewable energy in the future, Austria has to improve energy efficiency and keep developing renewable energy production, the minister said.
Austria has made the decision to rejoin the South Stream project. Initially, in 2010, Austrian OMV signed a basic agreement on cooperation with Russia’s Gazprom. Subsequently it was reported that OMV was engaged in negotiations with Gazprom on a contract for the supply of gas by the South Stream pipeline in the amount of 6 billion cubic metres a year.
However later OMV joined the alternative Nabucco project, which was supposed to bring gas to Austria and Germany from CIS countries. When the project was suspended, Gazprom began considering Austria’s participation in it again, but Italy remains the final destination for the time being.











