Austria Will Receive Russian Gas until 2027

2. Oktober 2006, 00:00

New contracts were signed between Gazprom and the Austrian companies OMV, OMV Gas, EconGas, GWH and Centrex Europe...

New contracts were signed between Gazprom and the Austrian companies OMV, OMV Gas, EconGas, GWH and Centrex Europe Energy & Gas AG. The initial delivery contracts were due to expire in 2012. The extended contracts are prolonged until 2027 and under the terms of the agreements, Gazprom will supply Austria with a total of 7 billion cubic metres of gas.

The new official buyer of Russian gas will be EconGas, which is 50 per cent owned by OMV AG. EconGas replaces OMV Gas International. The switch was explained by the running process of gas market liberalisation in the country and the ongoing restructuring of OMV AG.

GWH and Centrex Europe Energy & Gas AG received authorisation to sell gas directly on the Austrian market, specifically to consumers in the provinces of Carinthia, Styria, and Salzburg.

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