OMV expects Russian gas supplies to Austria to stop on Nov 16

MOSCOW. Nov 15 (Interfax) - OMV has announced that it has received a notice from Gazprom regarding the suspension of Russian gas supplies to Austria starting Saturday morning.

"The company OMV Gas Marketing & Trading GmbH (OGMT) has just received a notification from Gazprom Export stating that Gazprom Export will suspend, and thus reduce to 0%, natural gas supplies under the Austrian supply contract with OGMT starting at 06:00 CET [08:00 Moscow time] on November 16, 2024. This will impact operations at the Austrian Virtual Trading Point [hub]," OMV said in a statement on the Central European Gas Hub AG.

As reported, OMV announced that it had won an arbitration dispute with Gazprom. The awarded amount of 230 million euros is being claimed by the Western company as a credit within the framework of the existing contract for Russian gas supplies. Under the terms of Russian gas exports to unfriendly countries, supplies are halted in cases of incomplete payment, with the risk now having come to pass.

The Austrian side estimates potential supply losses at around 6 billion cubic meters per year.