Gas Market News

3 May 2017

OMV Expects to Increase Gas Purchases from Gazprom

During his visit to Russia on April 28, 2017, the Chairman of the Executive Board and CEO of the OMV oil and gas concern Rainer Seele held a working meeting with Russian President Vladimir Putin. The meeting was also attended by the Chairman of the Management Committee of PJSC Gazprom Alexey Miller.

Rainer Seele said that OMV is planning not only to extend the current contract with Gazprom, but also to agree on the purchase of additional gas volumes. «Fifty years after we signed our marriage contract, it is surprising that our companies, OMV and Gazprom, are still so much in love with one another that we want to buy even more gas from Gazprom», the Chairman of the OMV Executive Board joked.

Seele also stressed that it was a great honor for OMV to be invited by Gazprom to invest in projects in Russia. «We have teamed up with Gazprom to launch joint gas production in Siberia. For this purpose, we intend to jointly build the required infrastructure», he said.

«OMV has been our long-time and very reliable partner. The first contracts with your company were signed 50 years ago, and our current contract is valid until 2028. I would like to note that we are satisfied with our cooperation, and we are ready to expand our ties for the benefit of our countries, Europe and Russia» — said the Russian President Vladimir Putin.

In this regard, Rainer Seele invited Vladimir Putin to visit Austria for the celebrations dedicated to the 50th anniversary of his company’s cooperation with Gazprom.

 

Background

Austria’s largest company, OMV AG, has been the Russian gas industry’s main business partner for almost half a century.
In 1968, OMV became the first Western company to sign a long-term natural gas purchasing contract with the USSR.
From the start of supplies to January 1, 2017, Austria received over 196 bcm of Russian natural gas, including 6.08 bcm in 2016.
 

 

Related sections:
Austria

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