Austrian oil company ends its contract with Russian Gazprom Export

OMV's website reports.

The company terminated the agreement due to fundamental violations of contractual obligations by Gazprom Export. 

The agreement between Austrian OMV and Russian Gazprom Export was signed in 2006 and was valid until 20240. According to it, OMV was to receive approximately 7,400 MWh per hour, which corresponds to about 5 TWh per month, at the Austrian-Slovak border. However, all supplies stopped on November 16. 

"The key priority of OMV is always to be a reliable supplier for our customers in all markets and countries where we operate. Fully aware of this deep responsibility, we continuously implement our strategy of diversifying gas supply sources and additional pipeline capacities. Thanks to the successful efforts of our gas task force over the past three years, OMV now has the ability to utilize our diversified portfolio of alternative gas sources, ensuring reliable deliveries for our customers," said CEO Alfred Stern.

• In June 2024, the average daily supply of natural gas by Russian Gazprom to European countries was almost 23% higher than last year.