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Austria’s EconGas, Gazprom Export agree to reduce prices to supply gas to Austria

December 09, 2013, 19:04 UTC+3 VIENNA
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VIENNA, December 09. /ITAR-TASS/. Austria’s EconGas, OMV subsidiary, has agreed with Gazprom Export to reduce prices to supply gas to Austria, OMV’s press service reported.

“We’re glad that we succeeded in agreeing on the price during the talks,” OMV Director-General Gerhard Roiss said.

“This step will make the market competitive,” the OMV director-general said, adding that the company considered the price acceptable.

An agreement on a transition period envisions a possibility to make corrections in the future. Austrian analysts say in recent times EconGAs has faced financial difficulties due to volatility in the natural gas market in Europe.

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