Austria's government will take measures to reduce the usage of gas in industry and power production at peak times if the halt in the gas supply out of Russia continues much longer, the Ministry of Economic Affairs said Wednesday.
The ministry said, however, that Austria has sufficient gas in storage to guarantee supply to private customers and commerce for three months.
Austria's largest gas distributor OMV Econ Gas, a full subsidiary of oil and gas company OMV AG (OMV.VI), said earlier Wednesday the supply of gas from Russia via Ukraine has completely stopped, after it was dramatically cut to 10% of normal inflow Tuesday.
Austria receives 51% of its annually consumed gas from Russia via Ukraine.
In a written statement, the ministry said it has called for an energy-meeting in Vienna of ministers and industry experts later Wednesday, at which further measures to cushion the effects of the gas crisis will be considered.