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Putin said to reporters, "Austrian partners trust Russian partners much more than vice versa, because Austrian investment in Russia is double Russian investment in Austria."
Russia, Austria to open gas storage facility - Putin
20:52, 23/ 05/ 2007
VIENNA, May 23 (RIA Novosti) - Russia and Austria will open a large natural gas storage facility with a holding capacity of 2.4 billion cubic meters near Salzburg, in western Austria, Thursday, President Vladimir Putin said Wednesday. "Tomorrow, we will open a large gas storage facility near Salzburg able to hold 2.4 billion cubic meters of gas - a third of Austria's demands. That is a very good step toward the stabilization of our energy relations," Putin told journalists in Austria.
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In September 2006, Russian energy giant Gazprom [RTS: GAZP] extended contracts to supply gas to Austria from 2012 to 2027. In line with concluded long-term contracts, Gazprom will ensure deliveries of about 7 billion cubic meters of gas annually until 2027, the amount Austria needs.
According to Kremlin aide Sergei Prikhodko, there are some 1,200 Austrian companies and 500 joint ventures currently operating in Russia, and bilateral trade between the two countries grew 45% in 2006, to $5 billion...
