OMV is an international oil and gas concern and the largest industrial company in Austria. OMV Group operates in 28 countries and is the largest industrial company in Austria, that extracts and markets oil and gas, develops and sells innovations in the energy sector, and deploys advanced technological solutions in the field of petrochemistry.
“Our company’s cooperation with Russia began back in 1968, and now Russia is a key country for partnership and business development for us. In 2017, we signed an agreement on the development of a strategic partnership with Gazprom, closed a deal to acquire a stake in the Yuzhno-Russkoye field”, – said Elena Roxana Schellhorn, OMV Representative.
OMV has a multi-faceted partnership with Gazprom: so far, the companies have exchanged assets, concluded an agreement on scientific and technical cooperation and are currently implementing joint cultural and charitable projects, cooperating in the field of gas and LNG transportation.
In June 2018, OMV and Gazprom signed an agreement to extend the supply of natural gas until 2040.
On 4 October, at the 8th St. Petersburg International Gas Forum, Alexey Miller, Chairman of the Management Committee of Gazprom, and Rainer Seele, Chairman of the Executive Board of OMV AG, signed yet another Memorandum on Strategic Cooperation.
The document provides for the establishment of a Joint Coordinating Committee on cooperation in the field of natural gas, including geological exploration, production and transportation, as well as joint-projects in the field of scientific and engineering cooperation and training.
By 2025, OMV plans to double gas sales, focusing on the volume of more than 20 billion cubic meters. The Austrian concern intends to increase its presence on the European gas market, to occupy up to 10% of the German market, to increase its share in the gas projects of Russia, Norway and Romania.