Russian gas supplies to Austria are increased

Gazprom and OMV chairmen have signed an amendment concerning gas supplies to Austria.

Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, have met in St. Petersburg to sign an amendment to the contract concerning gas supplies to Austria. Gas deliveries are to be increased by 1 billion m3/y for the whole contract period.

Alexey Miller states, that in 2018 gas supplies to Austria have grown by one third. The document on additional exports proves that Russian gas is in high demand in Europe. Rainer Seele says that the demand will rise as European gas-fired power plants are switching to coal, besides, there’s a decrease in production. He also states that increased gas supplies to Lower Austria contribute to Austria’s security of supply.

Companies’ leaders also negotiated about several documents: one concerning a Joint Co-ordinating Committee for the companies collaboration and another directed at the business deal in terms of which OMV will get a stake in Blocks 4A and 5A developing project in the Achimov formations of the Urengoyskoye field.

The news adds to the advantages of Russian pipelines, however the future of the world energy supplies is still indefinite. Will Russian pipelines outweigh East Asian ones? Or will the industry turn to LNG/renewables strategy? Join the discussion and present your insights and case studies during The Midstream Oil and Gas Congress MOGC 2019. The event dedicated to Oil and Gas Transportation via pipelines is taking place in Greece, Thessaloniki on 18-19th of February, 2019.

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