Strategic Gas Reserve

AGGM was entrusted with the procurement and management of the Austrian strategic gas reserve by the amendment to the Austrian Gas Act 2011 (GWG) (Federal Law Gazette I No. 38/2022)

AGGM has founded a subsidiary, ASGM Austrian Strategic Gas Storage Management GmbH, for the exclusive purpose of procuring the strategic gas reserve. To facilitate the Know Your Customer process, the following information has been compiled: ASGM datasheet

The two current tenders for the procurement of the strategic reserve have already been completed. The total amount of 20 TWh could be obtained.

First Tender: 

Within the framework of a market-based, transparent, non-discriminatory and public tender procedure, 12.6 TWh of gas are to be procured from federal funds in order to increase the security of supply in the Austrian market areas East, Tyrol and Vorarlberg. In this first tender for the Strategic Gas Reserve, 7.7 TWh were obtained.

Second Tender:

With the Ordinance of 30 June (Federal Law Gazette II No. 262/2022), the Federal Government decided to increase the strategic gas reserve pursuant to article 18a of the Gas Industry Act 2011 (GWG 2011) by 7.4 TWh to a total of 20 TWh. For the purpose of diversification of gas supply sources, the tender conditions shall provide that contracts - subject to availability on the market - shall be concluded with those bidders for which it is proven by appropriate documentation that the gas originates in states which are not affected by an upright measure within the meaning of Regulation (EU) No. 833/2014, OJ No. L 229, 31.7.2014, p. 1, as amended by L 153, 3.6.2022, p. 53.

ASGM was able to obtain a total of 12.3 TWh of gas in the second tender; 8.5 TWh of gas came from non-Russian sources. This means that all requirements were met. 

The total cost of the two tenders amounts to 3.95 billion Euro.

As of 1.11.2022, the entire 20 TWh of gas of the Strategic Gas Reserve will be available.

 

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