Try Jim Cramer's Action Alerts PLUS

Gas From Russia Is Down 90% in Austria

The Associated Press

01/06/09 - 09:01 AM EST
Vienna, Austria -- OMV AG, Central Europe's largest oil and gas company, says Austria's natural gas supplies from Russia are down 90%.

Austria's Economics Ministry has called an emergency meeting to review the situation. But OMV says it has a three-month reserve which it says is enough to get businesses and homes that heat with gas through the coldest part of winter.

OMV said by early afternoon Tuesday, the gas it imports from Russia was just 10% of its normal volume.

Austria gets about 51% of its natural gas from Russia. Of the rest, officials say about 31% comes from Norway and other countries, and about 18% comes from Austria itself.


Brokerage Partners