OMV Subsidiary and Gazprom Export Reach Agreement for Gas Supply

OMV’s subsidiary EconGas reached an interim agreement for long-term gas supply contracts with Gazprom Export. 

"This is a positive milestone in ensuring that EconGas is moving towards a more competitive position. The new arrangement reflects our sustainable partnership with our long-term gas suppliers. We appreciate the result of the constructive negotiations which put us closer to the current market conditions in terms of natural gas,” OMV CEO Gerhard Roiss commented in a note released on Monday.  

The agreement includes an adjustment of long-term gas supply contract, leaving the door open to further reviews of the contractual terms. 

The company wrote that the details of the agreement cannot be disclosed, ‘due to the confidentiality undertakings in the agreement.’