Gazprom’s gas deliveries to Austria will be increased by 1 billion m3/y beyond the contractual amount for the entire contract period, the two companies said after a meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV.
“Over the past few years, Gazprom has been setting new records for exports to Austria. In the first ten months of 2018 alone, gas supplies to the country have grown by a third compared to the same period of 2017, reaching 8.8 billion m3. The signing of a document on additional exports beyond the contractual amounts serves as yet another proof of the high demand for Russian gas on the part of our European consumers,” Miller said, according to TASS news agency.
“Europe’s demand for gas will rise primarily as the result of gas-fired power plants successively replacing coal, coupled with the simultaneous decrease in European production. By increasing gas supplies to Baumgarten in Lower Austria, we are making an additional contribution to the security of supply in Austria – as well as to other European countries,” said OMV’s CEO Rainer Seele.
In addition, the parties discussed further steps in the implementation of the agreements signed in October of this year, such as the document establishing a Joint Co-ordinating Committee for the purposes of collaboration between the companies, as well as the upcoming deal during which OMV will obtain a stake in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field.