2020-12-03 11:50:00
RUSSIA'S GAS FOR GERMANY
PLATTS - 02 Dec 2020 - Gazprom Export has begun to supply gas to the trading arm of Austria's OMV for delivery into the German market under a new long-term contract, the Russian company said Dec. 2.
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.
The new agreement for Russian gas supply into Germany was signed at the end of October, Gazprom Export said in a short statement.
"On Dec. 1, Gazprom Export began gas deliveries to the German market for OMV Gas Marketing & Trading," it said.
"This new long-term contract proves that Russian pipeline gas will remain in demand in Europe for many years to come," Gazprom Export CEO Elena Burmistrova said.
"We are glad that OMV will work on Europe's largest gas market in Germany with gas from Gazprom," Burmistrova said.
It is unclear how much gas and for what duration OMV has agreed to buy gas from Gazprom Export for German delivery.
OMV, in response to a request for comment from S&P Global Platts, said: "We can confirm that there is a new supply contract in place, but we do not disclose any details."
A Gazprom Export spokeswoman also declined to give further details.
OMV is one of Gazprom's key European partners. It is active in the Russian upstream with Gazprom, and is a co-financier of the almost-complete 55 Bcm/year Nord Stream 2 gas pipeline to Germany.
Its move in 2018 to extend to 2040 its long-term contract with Gazprom was a sign of the companies' close relations.
The contract signed in 2006 with OMV subsidiary Econgas -- which was fully consolidated by OMV in 2015 -- was due to expire in 2028.
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Earlier:
2020, November, 30, 11:50:00
NORD STREAM 2 RESUMPTION
Construction work on the Nord Stream 2 gas pipeline in the Baltic Sea will resume this week, despite U.S. sanctions designed to end the pipeline that will bring Russian gas to Germany.
2020, November, 27, 11:45:00
NORD STREAM 2 SANCTIONS
The DNV GL spokesman said: "Under these new guidelines, we find DNV GL's verification activities linked to vessels with equipment serving the Nord Stream 2 project to be sanctionable."
2020, November, 26, 12:15:00
RUSSIAN GAZPROM'S BENEFIT
"The macroeconomic situation has had a negative impact on the long-term development prospects of the LNG industry," Gazprom said, adding that so far in 2020 only one final investment decision had been made for a new LNG production project.
2020, November, 24, 12:35:00
NORD STREAM 2 WILL BE COMPLETED
Wintershall Dea is one of five European energy companies -- along with France's Engie, Austria 's OMV, Anglo-Dutch Shell and Germany's Uniper -- that have co-financed the project, each committing to invest Eur950 million.
2020, November, 12, 13:55:00
NORD STREAM 2 SANCTIONS ANEW
Gazprom and Germany say Nord Stream 2 is purely a commercial project. Gas demand in Germany is growing as it cuts dependence on nuclear and coal power.
2020, November, 10, 11:25:00
NORD STREAM 2 AGAINST PENALTY $7.7 BLN
UOKiK on Oct. 7 imposed a fine of more than Zloty 29 billion ($7.62 billion, Eur6.48 billion) on Russian gas giant Gazprom for building Nord Stream 2 without its approval, as well as a fine totaling Zloty 234 million on five European companies that helped finance the project.
2020, November, 10, 11:20:00
GERMANY WITHOUT NORD STREAM 2
The almost complete Nord Stream 2 was meant to come online at the end of 2019, but the threat of US sanctions against companies working on laying the pipeline saw main contractor Allseas halt work in December last year.
