Gazprom and OMV introducing amendments to asset sale deal

Background

OMV AG is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.

On October 3, 2018, Gazprom and OMV signed the Basic Agreement on Asset Sale. In accordance with the document, OMV will obtain a 24.98 per cent stake in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field. As a result, the Gazprom Group’s stake in the project will decrease to 50.01 per cent, while Wintershall Dea GmbH will retain its share of 25.01 per cent.

In June 2018, an Agreement was signed to extend until 2040 the existing contract between Gazprom Export and OMV Gas Marketing & Trading GmbH for Russian gas supplies to Austria.

In 2019, Gazprom supplied to Austria 14.1 billion cubic meters of gas.