Sponsored Content
Arbitration Court Awards OMV 230 Million Euros in Dispute with Gazprom
A significant legal victory for OMV: the Austrian energy group has successfully concluded arbitration proceedings against Gazprom Export under the rules of the International Chamber of Commerce (ICC).
It has now become less terrifying to think of Austria not receiving Russian gas. / Picture: © Wikimedia Commons / DanielZanetti / CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)
The arbitration tribunal awarded OMV damages of 230 million euros, including interest and costs. The background to the proceedings was irregular gas deliveries and the complete cessation of deliveries to Germany in September 2022. OMV initiated the proceedings at the beginning of 2023 after the delivery difficulties had led to considerable financial losses.
OMV plans to offset…
or Log In
Fast News Search