Background

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

Since 2017, OMV has been partnering with Gazprom in the development of the Yuzhno-Russkoye oil, gas and condensate field.

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 November 2018, an Amendment to the contract on gas supplies to Austria was signed. According to the document, gas deliveries to Austria are to be increased by 1 billion cubic meters per year beyond the contractual amount for the entire contract period.

In October 2018, Gazprom and OMV signed a Memorandum on Strategic Cooperation.

Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.