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The largest steel company in Austria announced its readiness to stop gas supplies from Russia

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Voestalpine has set up its own natural gas storage facilities for three months of operation and has begun to fill them up. In addition, the group has signed contracts with alternative hydrocarbon suppliers and is ready for a complete halt in gas supplies from Russia.

The largest steel company in Austria announced its readiness to stop gas supplies from Russia

Austrian Voestalpine has prepared for a further reduction or complete cessation of gas supplies from Russia by signing contracts for alternative supply volumes and starting to fill its own gas storage facilities. This was reported in the press service of Voestalpine on Friday.

The steel company's Austrian production sites currently receive most of the required gas through the Transgas pipeline through Slovakia.

Voestalpine primarily requires natural gas for heat treatment processes and rolling mills in steel mills, primarily in Linz, Donawitz and Kapfenberg.

The company has already drawn up an emergency plan in which steel production is adjusted to the available energy levels, and this plan will take effect in the event of any gas supply restrictions.

In May 2022, the Austrian steel company for the first time signed a contract for the construction of its own gas storage facilities. Voestalpine will store up to 1.5 TWh of gas in storage facilities including RAG Haag and Haidach. This volume is enough for three months of operation at full power or, accordingly, longer at reduced power. These properties are currently half full and should be fully stocked by mid-July 2022.

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