The parties looked into the current issues and prospects of their strategic cooperation.

OMV already has a long-term Russian gas import contract with Gazprom for 6 Bcm/year for deliveries to Austria that is set to run until 2040.

OMV, which currently owns a 36 percent stake in Borealis, will acquire an additional 39 percent from Mubadala. The transaction value amounts to $4.68 billion and represents the biggest acquisition in OMV’s history and the largest transaction ever for Mubadala.

Gazprom, OMV have agreed, inter alia, to extend until June 2022 the negotiations for the final agreement on the deal.

“Австрия является надежным партнером России в газовом сотрудничестве, уже второй год подряд обновляется рекорд по объему экспорта газа в Австрию: если по итогам 2017 года он вырос до 9,1 млрд куб. м, то в 2018 году этот показатель составил уже 12,3 млрд куб. м. Уверен, что по итогам 2019 года мы выйдем на новые рекорды”, - отметил Александр Новак.

Gazprom delivered to the country 12.7 billion cubic meters of gas, which was 2.8 per cent more than in the entire year of 2018, a record-breaking year in terms of Gazprom's exports to Austria.

The document sets the price of the deal during which OMV will obtain a 24.98 per cent stake in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field at EUR 905 million (USD 1.02 billion at the cross rate of the Central Bank of the Russian Federation as of June 7, 2019). The parties plan to enter into the final agreement on the deal before the end of 2019.

the meeting participants discussed the ongoing exports of Russian gas to Austria, noting that gas exports to the country continue to grow in 2019 and the pace is accelerating. According to preliminary data, gas supplies went up by 20.5 per cent in January-April 2019 compared to the same period of 2018, while the May 1–20 period of this year showed a 44 per cent increase.

The parties discussed key areas of cooperation between the companies, including gas supplies and the ongoing construction of the Nord Stream 2 gas pipeline.

Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan and Chancellor of Austria Sebastian Kurz attended the signing ceremony of Memorandum of Understanding (MoU) between Abu Dhabi National Oil Company (ADNOC) and OMV and Borealis to explore new opportunities for collaboration in the downstream sector.