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Austrian company OMV has terminated its contract with Gazprom

Image: TASS (illustration)

European countries continue to adapt to new conditions and EU officials are confident in the availability of alternative sources of gas.

Austrian oil company OMV has terminated its gas supply contract with Russian Gazprom Export, which should be valid until 2040. This was announced on Wednesday, December 11, on OMV’s website.

The company explained the termination of the contract concluded in 2006 by “numerous significant violations of contractual obligations” on the part of Gazprom Export, which is a subsidiary of Gazprom.

“From November 16, 2024, Gazprom Export will stop supplying gas to OMV Previously, OMV received about 7,400 MWh per hour, which is equivalent to about 5 TWh per month, on the border of Austria and Slovakia ,” explained the Austrian oil company.

OMV CEO Alfred Stern emphasized that his company now receives gas from its own fields in Norway and Austria, from external gas producers and in the form of liquefied natural gas (LNG). OMV’s gas storage facilities in Austria are currently estimated to be 85% full.

“Thanks to the successful efforts of our gas team over the past three years, OMV is well positioned to leverage our diversified supply of alternative gas sources while ensuring security of supply for our customers, ” said Stern.

As you know, the Austrian oil and gas company OMV won a claim in the arbitration court for 230 million euros against the Russian Gazprom in a dispute over the interruption of gas supplies under a contract “German “.

Subsequently, it became known that from Saturday, November 16, Gazprom stopped supplying natural gas in transit through Ukraine to the Austrian company OMV.

Austria confiscated Russian gas worth 230 million euros – media

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Source: korrespondent

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