OMV, a multinational energy company based in Vienna, has shifted to other options, including increasing its own output of natural gas, drilling for oil and experimenting with geothermal energy.The New York Times reports that just a short walk from a metro station in the northeast corner of Vienna, a drilling rig stands tall at over 130 feet, giving the impression of being in Texas. However, instead of oil, this rig is extracting close to 1.7 million gallons of hot water per day from deep underground. The water’s heat will be used to warm 20,000 households in the Austrian capital before being pumped back below the surface. This innovative use of geothermal energy not only reduces carbon dioxide emissions, but also helps Austria break its longstanding dependency on Russian gas.
OMV, the Vienna-based company overseeing the project, sees this as a new chapter in their energy portfolio. For the first time in six decades, they will no longer rely on Russian gas. This shift is crucial for Central European countries, who have been under pressure to find alternative energy sources since Russia’s 2022 invasion of Ukraine. While breaking away from Russian gas has been challenging for Austria, they are now one of the few European countries to stop importing it through pipelines.
OMV’s chief executive, Alfred Stern, sees this as a turning point for the company. He believes that they are headed towards new horizons and are no longer limited by their reliance on Russian gas. This move towards renewable energy sources not only benefits the environment, but also strengthens Austria’s energy independence.
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