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Gazprom and OMV Meet to Strengthen Cooperation

Gasoil News - Published on Mon, 24 Feb 2020

Image Source: Gazprom OMV Nord Stream 2
A working meeting between Gazprom Chairman Mr Alexey Miller and OMV Chairman Mr Rainer Seele took place in Moscow. The parties discussed the state and prospects of cooperation, focusing in particular on gas supplies. It was noted that the overall exports of Russian pipeline gas to Austria reached an all-time high in 2019 at 14.1 billion cubic meters, an increase of 14.6 per cent against the record year of 2018. Special attention was paid to the Nord Stream 2 gas pipeline construction project.

OMV AG is Gazprom's main partner in Austria. The companies cooperate in gas production, transportation and supplies. 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 2018, Gazprom supplied to Austria 12.3 billion cubic meters of gas.

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. In 2017, Nord Stream 2 AG signed agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50 per cent of the total cost of the project.

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Posted By : Yogender Pancholi on Mon, 24 Feb 2020
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