Gazprom’s Natural Gas Supplies to Austria Increase 33% in 2019

SEATTLE (Oil Monster):  During a meeting between Alexey Miller, chairman Gazprom Management Committee, and Rainer Seele, chairman, executive board, OMV, the parties reviewed current issues related to their cooperation, including the growth of natural gas exports to Austria. 

An analysis revealed that between Jan. 1 and March 5, 2019, Gazprom’s natural gas supplies to Austria came to an estimated 3.3 Bcm, an increase of 32.9% from the same period of last year.

The parties also discussed the ongoing implementation of the Nord Stream 2 project, noting that the work is going as planned. At this time, 818 km of pipeline has been constructed/laid―precisely one-third of the gas pipeline’s total length―in the Baltic Sea. 

In addition, the meeting touched on the prospects for further sci-tech cooperation and collaboration in the area of culture.

Historical Perspective

OMV AG is Gazprom’s main partner in Austria. The companies cooperate, among other things, on gas production, transportation and supplies. 

Since 2017, OMV has been partnering with Gazprom in the development of the Yuzhno-Russkoye oil, gas and condensate field.

In June 2018, an Agreement was signed to extend until 2040 the existing contract between Gazprom Export and OMV Gas Marketing & Trading GmbH for Russian gas supplies to Austria. 

In November 2018, an Amendment to the contract on gas supplies to Austria was signed. According to the document, gas deliveries to Austria are to be increased by 1 Bcm/year beyond the contractual amount for the entire contract period.

ctober 2018, Gazprom and OMV signed a Memorandum on Strategic Cooperation. Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.

Courtesy: www.worldoil.com