Following last year’s increase of 38 per cent, Gazprom continued to boost its gas exports to the Austrian market. Specifically, from January through May 2017 Russian gas deliveries to Austria added 79.5 per cent compared to the same period of 2016.

Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the OMV Executive Board, signed the Basic Agreement regarding the asset swap. The signing ceremony took place in the presence of Hans Jörg Schelling, Minister of Finance of the Republic of Austria, and Anatoly Yanovsky, Deputy Minister of Energy of Russia.

In 2015, Russian gas exports to Austria rose 11.5 per cent versus 2014. From January 1 through October 10, 2016, Russian gas supplies to Austria totaled 4.18 billion cubic meters, which was 23.8 per cent higher than in the same period of 2015.

Commenting on a statement by Gazprom on February 2 that Austria had imported 76.2% more gas this January than it had in January 2015, the country's dominant supplier OMV said that was because deliveries last year had been low for unspecified "technical reasons." "We are however back to normal levels this year," a spokesperson said. Gazprom said exports to Austria in 2015 were up by 11.5% in 2015 on the year but gave no volumes for either period.

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