Austrian OMV Declares Exit from Russian Gas as "Extremely Difficult"

PeopleExecutives ♦ Published: March 28, 2023; 19:48 ♦ (Vindobona)

The CEO of the Austrian energy group OMV, Alfred Stern, currently sees hardly any possibility to get out of the Russian business with natural gas. He also sees no alternative to fossil fuels in the short term and talked about relations with Asia-Pacific.

OMV General Director Alfred Stern sees an alternative future to fossil fuels and the exit from Russian gas as difficult. / Picture: © OMV Aktiengesellschaft

The European Commission is currently working on a plan to make the EU independent of Russian energy imports by 2027. The supply agreement for Austria, on the other hand, runs until 2040. The Alpine country purchased 79 percent of its natural gas from Russia in February.

According to CEO Alfred Stern, Austrian energy group OMV can currently hardly get out of its Russian natural…