The Austrian company OMV has terminated the contract with Russian Gazprom, which provided for the supply of fuel until 2040. This is stated on the OMV website, according to UNN.
OMV terminates its long-term natural gas supply agreement with Gazprom Export. OMV now no longer has any supply contracts with Gazprom Export and has no commercial activities in Russia.
The company noted that gas supplies have not been made since November 16. OMV explained the termination of the contract as "fundamental violations of the contract with Gazprom Export. It comes into effect immediately.
The contract, dated 2006, was signed until 2040.
OMV's top priority is to always be a reliable supplier for our customers in all markets and countries where we operate. In view of this important responsibility, we are continuously and consistently implementing our diversification strategy... Today we can rely on a diversified portfolio of alternative sources of gas and thus ensure security of supply for our customers,
It is noted that the termination of the contract with Gazprom Export significantly reduces the potential risk profile of OMV Gas Marketing & Trading (OGMT). The supply volumes under the contract have been fully diversified over the past three years thanks to alternative sources.
OMV added that its gas storage facilities in Austria are currently about 85% full. They also assured that the company is able to fulfill all contracts for alternative gas sources.
Austrian Chancellor Karl Negammer responded to the situation.
Russia wanted to use energy as a weapon against us - it didn't work. Gazprom did not honor the agreements, so OMV is immediately ending the contract, which was supposed to be valid until 2040. Our energy supply is secure because we are well prepared. Austria will not allow Russia to blackmail us,
Recall
The Russian company Gazprom intends to stop gas transit through Ukraine after December 31, 2024. Gas exports to "far abroad" will be reduced by 20% to less than 39 billion cubic meters.