News Feed

Austrian energy company OMV to continue importing Russian gas

1 min read

The Austrian OMV energy company's CEO, Alfred Stern, told the Financial Times his company didn't plan to exit its long-term supply contract with Russia’s Gazprom signed in 2018 and going until 2040.

“As long as Gazprom will supply . . . we will continue to take these quantities from Gazprom,” Stern said.

OMV supplies about 30% of the Austrian gas market, and its biggest shareholder is the Austrian government.

The company is also one of the five Western financial backers of Gazprom NordStream 2 worth 11 billion euros, which was halted days before Russia launched its full-scale invasion of Ukraine on Feb. 24, 2022.

In June 2022, the EU introduced a ban on importing Russian oil, but gas is not subjected to such sanctions.

Sanctions on gas imports have been discussed by the EU, but no consensus has emerged so far.

Germany and the Czech Republic have reduced Russian gas imports to zero, but Austria has made little to reduce its reliance on Russian gas.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

Yevhen Zhukov, head of Ukraine's patrol police, resigned on April 19 amid controversy over the police response to the deadly mass shooting in Kyiv the previous day.

Video

In the latest episode of Ukraine This Week, Anna Belokur examines why Ukrainian refugees are becoming increasingly vulnerable to violence and other risks abroad. Since millions fled Russia’s full-scale invasion, Ukrainian refugees have faced attacks in countries across Europe and the United States.

Show More