OMV makes largest natural gas discovery in 40 years in Austria

Nice – I like it especially as I am living in Austria. But let’s stop patting each other’s backs for a moment and look at total volumes. Austria’s gas production was always pretty tiny. Around 1 bcm per year. Increasing that by 50% does not even push us over the 2 bcm mark. Austria needs more than 8 bcm per year so that’s not even a quarter of domestic gas. There could be much more if we decided to go for shale for real, making Austria energy independent – potentially at least. It would also create jobs and invest money that we are exporting now in the country. But knowing politicians this all won’t fly any further. 

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