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OMV Terminates Gas Supply Contract with Gazprom
OMV has terminated its long-term gas supply contract with the Russian energy group Gazprom with immediate effect. According to OMV, this was due to “fundamental breaches of contract” by Gazprom, in particular, because no gas deliveries have taken place since November 16, 2024. This decision represents a turning point in Austrian energy policy and marks the end of a business relationship that has lasted over 50 years.
December 11, 2024
Russian Gas Flow to Austria: Stop of Gazprom Deliveries without Noticeable Effects
Despite the cessation of gas deliveries by the Russian energy group Gazprom to the Austrian OMV, the gas flow to Austria remains stable. Deliveries were registered at the important Baumgarten hub in Lower Austria, albeit with a slight reduction compared to previous months.
November 19, 2024
OMV CEO Stern: Independence from Russian Gas and Solid Business Development
The Austrian oil and gas group OMV has taken a significant step towards energy independence. CEO Alfred Stern declared at a press conference that OMV is no longer dependent on gas supplies from Russia. This announcement marks the end of a two-year strategic realignment aimed at diversifying gas sources and transportation routes.
July 31, 2024
OMV Secures Additional European Gas Transmission and Pipeline Capacities until 2028
The listed oil and gas group OMV has successfully secured additional European gas transport capacities and gas pipeline capacities. This measure serves to secure Austria's gas supply and enables OMV to meet its delivery obligations in the medium term.
July 12, 2023
Norwegian Aker BP and Austrian OMV Cooperate for CO2 Storage License
Norwegian oil and gas company Aker BP ASA and the Norwegian offshoot of Austria's OMV AS have signed a cooperation agreement on carbon capture and storage (CCS). As a result, both companies have been granted a license under CO2 storage regulations on the Norwegian continental shelf.
April 3, 2023
Large Natural Gas Field Found in Austria
The small town of Molln in Upper Austria could make an important contribution to the gas supply of the entire country in the next few years if the conjectures prove true. Test drilling is said to have already taken place, therefore it is known that the gas is of the best quality. The Australian company ADX Energy wants to start drilling for it this spring.
January 16, 2023
Austria Supports Expansion of Croatian LNG Terminal Krk
Croatia wants to expand its terminal for liquefied natural gas (LNG) on the Adriatic island of Krk far beyond its own needs and develop it into a hub for gas supply in the region - gas is also to flow from there to Austria and Germany in the future. At a meeting on Krk, Croatia's Prime Minister Andrej Plenkovic, Austria's Chancellor Karl Nehammer and Bavaria's Minister President Markus Söder agreed to support each other in strengthening energy security, diversifying energy sources and ensuring the security of supply with natural gas and hydrogen.
November 24, 2022
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