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An explosion rocked the gas distribution center outside of Vienna Tuesday morning, prompting Italy to declare a state of emergency.
One person died in the blast while a further 21 were injured, one seriously, according to officials.
Located near Austria's eastern border with Slovakia, the Baumgarten gas hub carries about 10 percent of Europe gas supply from from Russia, Norway and other states.
It handles some 40 billion cubic meters per year, redistributing it around Europe, including to Germany, France, Italy, Slovakia and Croatia.
Italy, the Baumgarten hub's biggest recipient, declared a state of emergency following the blast, with the country's industry minister warning that it was facing a "serious" energy supply problem. A state of emergency status allows the Italian government to carry out extraordinary measures to try to meet energy demands, such as allowing coal and oil power plants to fire at full blast.
Britain’s Forties pipeline was shut due to cracks as a cold snap sweeps the country.
The Forties pipeline is important for the global oil market because the crude it carries normally sets the price of dated Brent, a benchmark used to price physical crude around the world and which underpins Brent futures.
repairs will take a 'couple of weeks'
Gas supply from Austrian gas hub back to normal - Gas Connect Austria
“We have been back to the same supply levels as before the accident at the Baumgarten compressor station, which means all transit systems in all directions are well functioning and back in operation”, Gas Connect Austria said on its website.
North Sea pipeline operator invokes force majeure
Analysts see Ineos declaration as a sign of severity of damage at Forties network
“Although North Sea cargoes are often delayed from one month to the next, it is very rare for force majeure to be declared, highlighting the severity of the issue,” said analysts at consultancy FGE.
“For Ineos to declare force majeure suggests to me this is a big deal,” said one London-based oil trader. “I’m surprised markets are taking it rather calmly as I suspect something more is going on and this is not a straightforward fix.”
. . . natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage . . .