OMV and Gazprom sign agreement for gas supplies
In view of strengthening their longstanding partnership, OAO Gazprom and OMV (through its subsidiary EconGas) have agreed on an amendment for the existing gas supply contract. The long-term contract has thereby been placed on a new footing that reflects changing market conditions.
The amendment to the contract has been signed today in Vienna by Alexander Medvedev, Gazprom Deputy Chairman of the Management Committee, and OMV Chief Executive Officer Gerhard Roiss. Both parties have agreed not to disclose the contract details.
Gerhard Roiss: "Today, Gazprom and OMV have taken an important step to secure long-term gas supplies to Austria. When signing the document, both partners also underlines the role of Baumgarten as an essential hub for Russian gas exports."
OMV is a well-established European import partner to Gazprom and Austria has received natural gas from Russia since 1968. The party of the amendment contract for the Russian natural gas is OMV subsidiary EconGas, in which OMV holds a 64.25% stake.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/28012015/omv-and-gazprom-sign-agreement-for-gas-supplies/
You might also like
World Pipelines Podcast: UK pipeline perspectives
In this episode, we look at the work of the Pipeline Industries Guild, in facilitating connections and learning for pipeliners of all kinds in the UK.
Northwind Midstream Partners expands off-spec gas treating, gathering, compression and carbon sequestration system in Lea County, NM
Northwind Midstream Partners LLC has announced that it has constructed and put into service a large amount of high-circulation amine treating capacity, two acid-gas disposal and carbon sequestration wells, over 200 miles of large-diameter pipelines and 41 750 hp of compression across five compressor stations.
