The head of Austrian oil, gas and chemical company OMV Alfred Stern said that the company will initiate arbitration proceedings against Gazprom, reports tagesschau, writes UNN.
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Austrian oil, gas and chemical company OMV has initiated arbitration proceedings against Gazprom over its participation in a Russian gas field, the head of OMV told the Austrian news agency APA. It is a question of "preserving OMV's contractual rights".
The partly state-owned company, based in Vienna, is listed as owning a nearly 25 percent stake in the West Siberian Yuzhno-Russkoye gas field, but has been expropriated by Russia. OMV has initiated several arbitration proceedings, Stern said.
"Gazprom", in turn, as indicated, wants to prevent this from happening. According to Russian court documents, the state-owned gas giant has also filed a lawsuit against OMV and other energy suppliers such as CEZ and Slovakia's ZSE.