Statement on sustainability

Statement on sustainability

In unstable times such as these – marked by geopolitical tensions, disruptive changes and growing uncertainties, including in the area of energy supply – long-term perspectives and reliable partnerships are particularly important. At RAG Austria AG, we are committed to providing transparent information about our business activities, priorities, measures and developments in the area of sustainability on a voluntary basis and with a view to our responsibility.

Recent years have impressively demonstrated how closely energy supply, geopolitical challenges and economic performance are linked – marked by ongoing crises such as a global pandemic, the war in Ukraine and rapidly advancing climate change. While public debate is increasingly focused on a purely renewable energy production, the importance of fossil fuels – especially natural gas – for global and European energy supply and energy security remains high. This relevance must also be assessed more realistically and objectively in public discourse. Demand, for example for industrial processes and and peak times, is only possible if system limitations are recognized. The current lack of long-term storage for solar electricity means that solar, wind and hydroelectric power has to be curtailed in summer and remains unused. This makes it all more important to push for economically viable solutions to store surplus solar energy for winter and make it available in the long term. We therefore need to take an honest look at the current framework conditions – without sugar-coating the facts or making unrealistic promises. Domestic production of crude oil and natural gas therefore remains essential for security of supply and domestic value creation, as it is carried out to the highest standards and without relevant CO2 emissions, unlike all imports. 

As one of Europe's leading independent energy storage operators, RAG Austria AG, as a critical infrastructure, had a special responsibility and systemic importance in the context of natural gas supply restrictions and changed energy flows in Europe. By acting quickly, we were able to continuously guarantee security of supply and thus once again demonstrate our performance capabilities. Our largest, ultra-modern energy storage facility in Haidach, with a storage volume of 2.9 billion cubic metres, was connected to the Austrian grid by us as the storage operator in accordance with legal requirements. Freed-up storage capacities were re-marketed through our subsidiary RAG Energy Storage GmbH, and parts of them were used as strategic gas reserves. Both regular operation and high plant availability and the precise provision of energy for our customers – and thus for the people of Austria and Central Europe – were and are guaranteed at all times.

Focus on sustainable energy mining

Our strategic focus on security of supply is at the heart of our business activities – and has proven to be both right and necessary, especially in recent years of crisis. Our infrastructure and services, the associated investments and the continuous expansion of storage solutions have directly benefited Central Europe, its economy and consumers . This experience confirms our sustainable approach, which is firmly anchored in our corporate strategy. At the same time, we are consistently pursuing the goal of gradually making our services for the secure supply of energy climate-neutral. This is made possible, for example, by the expansion of photovoltaic systems, the production and storage of hydrogen as an energy source, and the use of these energy sources for electricity and heat in our H2 combined heat and power plants for our own energy supply. With our technology solutions, we also want to show our customers in Austria and Central Europe practical ways to achieve climate neutrality and work together to advance these goals.

Renewables and Gas – Shaping the future of energy

At the heart of our work is the combination of security of supply and climate responsibility, RAG stands for"renewables and gas". We are making our contribution by further developing existing storage infrastructure, enabling new applications and entering into cooperation with industry and research. We are actively shaping the future of energy: technology-neutral, practical and responsible.

Closely linked to the sustainable management of our natural gas pore storage facilities, which in future will also be increasingly used for hydrogen and green gas, is our commitment to green gas technologies. We are committed to the perfect interplay between the production, conversion, storage and use of green energy. The energy transition can only succeed if we manage to make "durable" and bring the summer sun into winter in the form of hydrogen, using it as green electricity for industry, heating and mobility during periods of low sun and wind. However, this requires innovation, cross-sector cooperation, appropriate regulatory frameworks and technology neutrality.

Opening up new perspectives

For us, sustainability is not just a buzzword, but an integral part of our daily work in all areas. We strive to achieve improvements along the entire value chain and to further develop the energy industry and its technologies towards CO₂-neutrality with our innovative strength – step by step, with foresight and responsibility.

Looking at what we have achieved confirms that we are on the right path to a sustainable energy future. On this basis, we are working specifically on further projects that address our key economic, social and environmental issues and contribute to the continuous development of our sustainability management. On this website, we show what we are achieving in the context of sustainability and security of supply, take stock, present the specific measures we are taking to become even better, and introduce you to our pioneering demonstration projects. We invite you to continue on this path with us and open up new perspectives together.

The Management Board of RAG Austria AG