OMV : statement on gas supplies under Gazprom Export contract for Austrian Market Area East

OMV statement on gas supplies under Gazprom Export contract for Austrian Market Area East

OMV informs that in its role as leading gas marketing and trading company, it is obliged to inform the energy market via an Urgent Market Message of any actions that could impact its ability to receive gas from its suppliers.

OMV Gas Marketing & Trading GmbH (OGMT) has learned about a foreign court decision obtained by a major European energy company which, if enforced in Austria against OGMT, would require OGMT to make payments under its gas supply contract with Gazprom Export to such European energy company (instead of Gazprom Export). In this respect, it is currently not known to OGMT whether and when such an enforcement might occur.

In case of such an enforcement, OGMT considers it likely that Gazprom Export will halt supplying gas under the gas supply contract with OGMT, thereby affecting the Austrian gas market. This assessment is based on Gazprom Export's conduct in similar situations.

In the case of such a scenario, OGMT would still be able to supply its contractual customers with gas from alternative, non-Russian sources, through its extensive diversification efforts over the last several years.

OMV sources natural gas from its own production facilities in Norway and Austria, as well as from international natural gas producers. It also has long-term LNG supply contracts, which are imported into Europe via OMV's LNG regasification capacities at the GATE terminal in Rotterdam. OMV also participates as a potential buyer in the auctions of the EU's common gas purchasing platform ("EU Energy Platform"). In addition, OMV has access to all major central and north-west European gas trading and capacity marketplaces and has the corresponding transport capacities.

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