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OMV announces termination of contract with Gazprom Export due to suspension of supplies

Prior, OMV received approximately 7,400 MWh per hour, corresponding to approximately 5 TWh per month, at the Austrian Slovakian border, the company added

BERLIN, December 11. /TASS/. Austria’s energy company OMV has announced the termination of its contract with Gazprom Export due to suspension of gas supplies.

"OMV today announced the termination of its long-term natural gas supply contract with Gazprom Export in reference to multiple fundamental breaches of contractual obligations by Gazprom Export. This termination takes immediate effect. The subject contract originates from 2006 and stipulates a term until 2040. Since November 16, 2024, Gazprom Export has halted gas deliveries to OMV," the company said in a statement.

Prior, OMV received approximately 7,400 MWh per hour, corresponding to approximately 5 TWh per month, at the Austrian Slovakian border, the company added.

"The potential risk exposure of OMV Gas Marketing & Trading (OGMT) is significantly reduced by terminating the Austrian supply contract with Gazprom Export. The supply volumes of the contract with a single-digit million euros margin potential per annum have been fully diversified with alternative gas sources over the last three years," the statement reads.

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