Austria's Strategic Gas Reserve Extended Until April 2029

Fill Levels in Austria and the EU

In addition to the strategic reserve, a little more than 20 TWh was stored at Austrian facilities for foreign storage customers at the end of June. For the majority of this, it is not predetermined in advance where the stored gas will be sold. According to the assessment of the regulatory authority E-Control, around 9 TWh of the gas stored at the end of June is very likely intended for the Austrian market, but could also be released to non-Austrian parties.

Foreign Storage Customers

The volumes contained in the strategic reserve serve partly as a safety buffer for companies and partly for protected customers such as social institutions and hospitals. Austria's annual natural gas consumption is around 75 TWh. With the extension now adopted, the government is responding to the experiences of recent energy crises and to the geopolitically tense environment.

Who Benefits from the Reserve?

Economy Minister Wolfgang Hattmannsdorfer (ÖVP) had once again appealed to the opposition parties on Sunday via press release to approve the extension. In the Main Committee, both the Greens and the FPÖ voted in favor of the government's plans. This delivered the two-thirds majority required for ordinances with budgetary impact.

Political Majority in the Main Committee

The strategic gas reserve, which was established by the government in 2022, is being extended by two additional years. With the extension, the reserve will now run until April 1, 2029, and thus remains for the time being the central instrument for short-term hedging against supply disruptions.