Austrian company OMV announced on early termination of the contract with Russian Gazprom.
“OMV today announced the termination of the long-term contract for the supply of natural gas with Gazprom Export due to numerous significant violations of contractual obligations by Gazprom Export. The termination is effective immediately.” – says the company’s official statement.
The contract between OMV and Gazprom Export was signed in 2006 and was supposed to be valid until 2040. However, as reported in OMV, Gazprom Export stopped gas supply as early as November 16, 2024.
OMV CEO Alfred Stern emphasized that the company always prioritizes reliable supply to its customers.
“Fully aware of this deep responsibility, we are continuously implementing our strategy of diversifying gas supply sources and additional pipeline capacity. Thanks to the successful efforts of our gas task force over the past three years, OMV is very well positioned to use our diversified portfolio of alternative gas sources, ensuring security of supply for our customers” – he noted.
OMV said its gas portfolio includes several sources, including its own production in Norway and Austria. As of today, the company’s gas storage facilities in Austria are 85% full, which allows for full fulfillment of contracts due to alternative sources.
