OMV pulls the plug: End of the gas contracts with Gazprom!

OMV pulls the plug: End of the gas contracts with Gazprom!

In a crucial step, the OMV, Austria's leading oil and natural gas company, ended its delivery contract with the Russian energetic Gazprom on Wednesday. The reason for this radical decision is the one -sided setting of the gas deliveries by Gazprom, which started on November 16, 2024. This was announced on the Gashub.at platform, where the OMV said that Gazprom committed fundamental violations of the contract. Chancellor Karl Nehammer emphasized that Russia was unsuccessful extensive blackmail and called the termination an important measure on the energy independence of Austria, such as reported.

The contract concluded in 2006, which was extended by 2040, is characterized by secret "Take Or Pay" clauses, the Details of which are only accessible to a few experts. In a television discussion, Walter Boltz, a former board of directors of E-Control, said that the possibilities of extraordinary termination were considered to be well assessed, since Gazprom could not state any reasons such as force majeure for the delivery stops. The market should remain stable for the time being, since Austria has well -filled gas stores and the European gas market is well supplied. In addition, Boltz does not expect a massive increase in price, even if there could be slight price increases at short notice, Barron’s .

experts see the gas supply for the upcoming winter as secure, despite the tense relationships between OMV and Gazprom, which were reinforced by the Russian war of attack in Ukraine. It is also believed that Austria can continue to obtain small quantities of Russian gas via alternative routes, which further strengthens the safety of energy supply.