The Two Faces of Austria’s Energy Strategy

This one comes from BBJ: “On one track, OMV seeks the support of EU institutions and legal mechanisms to force a takeover of Hungary’s private-owned MOL energy company, which has consistently bested OMV in the regional market competition. On the other track, OMV is teaming up with Russia’s Gazprom to turn the EU’s high-priority Nabucco gas transport project into a joint venture with Gazprom. Farther along this second track lurks a possible tie-up of OMV itself with Gazprom, in which case energy assets in a number of Central European countries, including Hungary, would fall under Russian control. The Austrian government supports both tracks of OMV’s policy in relation to the EU and Gazprom.” Somehow is looks like Austria is hedging its political portfolio to come out OK if Gazprom succeeds in completely taking over energy in the East. This non-committal position will become harder and harder to hold in the coming year.