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The signing of new long-term contracts for the supply of natural gas with Azerbaijan, Algeria or Norway will lead to a decrease in world gas prices.

Report informs citing the Austrian media that the head of the Austrian energy regulator E-Control Wolfgang Urbancic said this.

“How long will Austria be able to hold out, where only 12% of natural gas storages are left, if Russia suddenly cuts the lines? The filling level roughly corresponds to the time of the year,” said V. Urbancic, stressing that in case of problems with Russian gas supplies, there are other options.

As the head of E-Control explained, the current goal should be to fill the gas storage tanks so that there is enough fuel for next winter.

“In Austria, gas is used for heating one million households, as well as for electricity. The main goal, of course, is to keep the power supply running, otherwise there may be power outages.”