After court ruling

OMV warns: Gazprom could stop deliveries

The OMV headquarters in Vienna

(Bild: APA/ALEX HALADA)

OMV went public with an "urgent announcement" on Wednesday. Due to a foreign court ruling, payments to the Russian gas company Gazprom are now at risk of being seized. This in turn could react with a delivery stop.

OMV Gas Marketing & Trading GmbH (OGMT) has learned of a court ruling that a large European energy company has obtained against Gazprom, according to the statement. OMV did not want to give the name of the company or the court; the Austrian energy regulator E-Control and the Ministry of Energy in Vienna do not know the name of the company, as they explained when asked by APA. The judgment relates to claims of the unnamed energy company against Gazprom, which could now be enforced.

(Bild: APA/AFP/OLGA MALTSEVA)

Experts from the Ministry of Energy are "examining developments"
In the event of foreclosure, OMV considers it likely "that Gazprom Export will cease gas deliveries under the gas supply contract with OMV Gas Marketing & Trading GmbH and thus impair the Austrian gas market", according to OMV's so-called "Urgent Market Message". This assessment is based on the behavior of Gazprom Export in similar situations.

"The experts at the Ministry of Climate Protection are currently examining the current developments in detail," said the responsible minister Leonore Gewessler (Greens) in a statement. "Supplies to Austria are currently being maintained without restrictions." She called on Austrian suppliers to press ahead with the establishment of supply relationships for non-Russian natural gas as quickly as possible.

E-Control: Gas supply secure in the coming winter
E-Control stated that the gas supply to the Austrian market is secure for the coming winter. The scenario of a loss of Russian gas supplies is already included in E-Control's calculations on the supply situation. The storage facilities in Austria are already around 77 percent full and there are alternative import options via Germany and Italy.

In this context, however, the increase in the gas storage levy in Germany from July would further exacerbate the price situation. As reported, the controversial levy, which is being fought by the federal government in Vienna, will rise from EUR 1.86 to EUR 2.50 per megawatt hour.

(Bild: APA/HANS KLAUS TECHT)

OMV has a gas supply contract with Gazprom until 2040 and also purchases gas from its own production in Austria and Norway and from other producers. According to OMV, it has also concluded long-term LNG supply contracts, which are imported to Europe at the terminal in Rotterdam. In addition, OMV is participating as a potential buyer in the auctions of the EU's joint gas purchasing platform and also has the necessary transport capacities.