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OMV not expecting serious gas price growth in Europe due to cold snap

The average gas price in Europe gained almost a quarter monthly as of the end of January 2026 to about $415 per 1,000 cubic meters

MOSCOW, February 4. /TASS/. OMV is not ruling out gas price spikes in Europe this winter but does not expect them to grow dramatically, Executive Vice President of the Austrian oil and gas company Berislav Gaso said at the online press conference.

"I do not think gas prices will change significantly. If it becomes colder again, we will probably have to import additional LNG volumes and there may be a small price spike. We nevertheless do not expect a dramatic rise in prices," Gaso said.

The average gas price in Europe gained almost a quarter monthly as of the end of January 2026 to about $415 per 1,000 cubic meters, amid the cold snap and dramatic depletion of EU gas inventories.