OMV Celebrates 50 Years of Lucrative Natural Gas Business

EnergyOil & Gas ♦ Published: June 6, 2018; 12:00 ♦ (Vindobona)

On 1 June 1968, a historic gas supply contract was signed in Vienna, establishing Austria’s role as a key country in Europe’s natural gas network. The 50-year collaboration with Russia is a win-win situation. Then, as now, natural gas plays a key role in OMV's portfolio, as European demand will continue to increase over the next decades. OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.

50 years natural gas supply contract signing / Picture: © OMV Aktiengesellschaft

Fifty years ago, on June 1, 1968, the Soviet company Soyuznefteexport and Österreichische Mineralölverwaltung (ÖMV) signed an agreement for supplying natural gas from the USSR to Austria. Austria became the first country in Western Europe to sign a gas contract with the Soviet Union.

In a mere three months, gas from Western Siberia reached the Baumgarten station.