OMV secures additional gas transport capacities until 2028
OMV secured additional European gas transport capacities to Austria.
In this year's annual auction, OMV was awarded capacities of around 40 TWh p.a. for the period between October 2023 to September 2026, and around 20 TWh p.a. for the period between October 2026 to September 2028. The border transfer points for the natural gas are Oberkappel via Germany and Arnoldstein via Italy. These capacities, in combination with alternative non-Russian gas sources of OMV, secure the supply obligations to its contract customers in the mid-term.
"OMV is actively driving forward the diversification of its gas supply sources, which includes gas from its own production and external sources from Norway, as well as additional LNG volumes. With this development, we continue to make a significant contribution to the gas supply in Austria.” commented Alfred Stern, CEO and Chairman of the OMV Executive Board “Our diversification strategy covers both gas supply sources and supply routes. The last auctions have shown that the challenge lies in the infrastructure, which, for historical reasons, is primarily focused on the supply route from the east via the Baumgarten hub." added Stern.
OMV continuously stores gas to further secure supplies to its customers. OMV's storage facilities are already filled at a capacity of around 85 percent.
Background information
OMV Aktiengesellschaft
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,700 filling stations in eight European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.