Omv secures additional european gas transmission and pipeline capacities until 2028

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The listed oil and gas group OMV has successfully secured additional European gas transport capacities and gas pipeline capacities. This measure serves to secure Austria's gas supply and enables OMV to meet its delivery obligations in the medium term.

In this year's annual auction, OMV was awarded gas transportation capacities of approximately 40 terawatt hours (TWh) per year for the period from October 2023 to September 2026. In addition, it secured capacities of approximately 20 TWh per year for the period from October 2026 to September 2028. The border transfer points for the gas are Oberkappel via Germany and Arnoldstein via Italy. These capacities, together with OMV's alternative non-Russian gas sources, ensure secure delivery to its contract customers.

OMV continues to diversify by expanding its gas supply sources. This includes both own production and purchases from Norway as well as additional LNG volumes. As a result, OMV continues to make a significant contribution to the gas supply in Austria. Alfred Stern, CEO and Chairman of the OMV Management Board emphasized the importance of this strategy, noting that the challenge lies in the infrastructure, which has historically been geared towards a supply of natural gas from the east via the Baumgarten hub.

OMV is consistently relying on gas storage to further secure supplies to its customers. Currently, the company's storage facilities are about 85 percent full. OMV is implementing many projects to diversify its gas reserves and sources and to make the energy supply more resilient. This is also the case in Southeastern Europe, with the project in the Romanian part of the Black Sea, one of the largest natural gas projects in the European Union to be built.

The additional capacities were also positively received by the Ministry of Finance. Magnus Brunner, Minister of Finance, praised the move as an important measure to ensure the security of supply, as reported by ORF. He stressed that Austria will continue to rely on gas in the medium term and that the award to OMV offers multi-year security. OMV is thus well prepared should gas supplies from Russia be interrupted, despite claims of CEO Stern, that OMV can currently hardly get out of its Russian natural gas deals.

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