- OMV terminates its long-term supply contract for natural gas with Gazprom Export
- OMV no longer has any supply contracts with Gazprom Export nor any business in Russia
- Since November 16, 2024, 06:00 CET, no deliveries of natural gas were made by Gazprom Export to OMV
- Termination relates to fundamental breaches of contractual obligations by Gazprom Export
OMV today announced the termination of its long-term natural gas supply contract with Gazprom Export in reference to multiple fundamental breaches of contractual obligations by Gazprom Export. This termination takes immediate effect. The subject contract originates from 2006 and stipulates a term until 2040. Since November 16, 2024, Gazprom Export has halted gas deliveries to OMV. Prior, OMV received approximately 7,400 MWh per hour, corresponding to approximately 5 TWh per month, at the Austrian Slovakian border.
Alfred Stern, Chairman of the Executive Board and CEO: “It is OMV’s key priority to always be a reliable supplier to our customers in any markets and countries we operate in. Being fully cognizant of this profound responsibility, we have continuously implemented our diversification strategy for gas supply sources and additional pipeline capacities. Thanks to the successful efforts by our gas taskforce team during the past three years, OMV is very well positioned to draw on our diversified portfolio of alternative gas sources, safeguarding supply security for our customers.”
The potential risk exposure of OMV Gas Marketing & Trading (OGMT) is significantly reduced by terminating the Austrian supply contract with Gazprom Export. The supply volumes of the contract with a single-digit million euros margin potential per annum have been fully diversified with alternative gas sources over the last three years.
As part of OMV’s ongoing diversification strategy, its portfolio of gas encompasses several supply sources from its own gas production in Norway and Austria, third-party gas producers, as well as additional long-term LNG volumes. OMV’s gas storage in Austria is currently at around 85 percent. OMV is in a position to fulfil all of its customer contracts from alternative gas sources.
About OMV
It is our purpose to reinvent everyday essentials. OMV is an integrated energy, fuels and chemicals company headquartered in Vienna, Austria. Through its businesses, OMV supplies products and solutions that support everyday life and industrial value chains.
In 2025, the company generated revenues of EUR 24 billion and employed around 22,300 people worldwide. OMV's key strategic shareholdings include a 51.2% stake in OMV Petrom and a 50% stake in Borouge International. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the United States on OTCQX (OMVKY, OMVJF).