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Austria to Form Committee to Assess OMV/Gazprom Contract

NATGAS

Austria will form a committee to examine the long-term gas supply contract between OMV and Gazprom, including the political situation when the contract was extended until 2040 back in 2018.

  • The ministry has previously said that it will examine ways in which it could end the contract early, in order to reduce dependence on Russian gas.
  • In May, Russian gas made up 90% of imports, as the German storage levy continues to make imports from north-west Europe uneconomic in comparison to Russian gas.
  • "The dependence on Russian gas supplies remains a major threat to our energy supply. We must derive two things from this fact: promote independence and learn from the mistakes of the past," Climate Protection Minister Leonore Gewessle said.
  • OMV is currently unaware of any irregularities in Gazprom’s gas supplies to Austria, the company said in June after the potential threat to have its supplies cut over a payment dispute.
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