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Interim solution with Gazprom Export for long-term gas supply contracts reached

December 9, 2013 - 12:30 am (CET)

  • OMV CEO Gerhard Roiss: "Positive milestone"

The fully consolidated OMV subsidiary EconGas has reached an interim agreement with its long-term natural gas supplier Gazprom Export, effective as of April 1, 2013.

OMV CEO Gerhard Roiss: "This is a positive milestone in ensuring that EconGas is moving towards a more competitive position. The new arrangement reflects our sustainable partnership with our long-term gas suppliers. We appreciate the result of the constructive negotiations which put us closer to the current market conditions in terms of natural gas."

During the regular price revision negotiations with the natural gas supplier Gazprom Export, an acceptable interim arrangement was reached. Under this interim agreement the terms of the long-term gas supply contract have been adjusted to more closely reflect the current market conditions on European gas markets and there exists a further possibility to review the contractual terms established in the near future.

Hans-Peter Floren, OMV Executive Board member responsible for Gas and Power: "This interim agreement together with the recently adjusted terms of the agreement with Statoil effective as of October 1, 2013, enables EconGas to deliver an improved performance in the near future."

Due to the confidentiality undertakings in the agreement, it is not possible to disclose further details of the adjustments.

OMV Aktiengesellschaft
With Group sales of EUR 42.65 bn and a workforce of around 29,000 employees in 2012, OMV Aktiengesellschaft is Austria’s largest listed industrial company. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio with a production of around 303,000 boe/d in 2012. In Gas and Power, OMV sold approximately 437 TWh of gas in 2012. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 103 bcm in 2012. In Refining and Marketing, OMV has an annual refining capacity of 22 mn t and as of the end of 2012 approximately 4,400 filling stations in 13 countries including Turkey.

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