OMV alive to on safety of provide as Gazprom gas contracts roll on -CEO

Austria’s OMV is calling for to diversify its sources of energy while anticipating apt readability on easy be taught how to handle its provide deals with long-time Russian gas dealer partner Gazprom, its chief govt said.

The European Union on Tuesday launched unusual sanctions in opposition to Russia for invading Ukraine, together with bans on Russian energy sector investments, however EU members can aloof purchase oil and gas from mountainous Russian producers.

“The (Russian) provide contracts shuffle till 2040 and we are in a position to survey how the apt ambiance and the sanctions ambiance possess over the next couple of years. Otherwise, in actual fact, right here is an recent contract,” CEO Alfred Stern urged ORF radio in an interview aired on Saturday.

Pressed on whether or now no longer an early exit from the Gazprom contract used to be an option, he said: “You can also evaluate that legally, and which skill that this would possibly well possibly be well-known to opinion what the apt ambiance if fact be told looks admire on this context. For the time being we’re if fact be told essentially enthusiastic in ensuring safety of provide. What other penalties that can possibly believe will became definite over the next couple of months.”

Requested whether or now no longer OMV used to be conducting this type of apt evaluate, he said: “For the time being we’re essentially enthusiastic in ensuring safety of provide right here. We’re in discussions with the authorities about how that can possibly occur, how we are in a position to diversify our sources of provide, how we are in a position to raise the amount of storage to make certain that that we now believe long-timeframe provide.”

Austria will get 80% of its gas from Russia. Changing this provide would now no longer be easy and would require big investment in infrastructure, Stern said.

“Our chances in Austria are if fact be told shrimp in the rapid timeframe,” he said.

OMV said this month it had no plans to refine Russian low oil in the “shut to future”.

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