Austria’s largest company, OMV AG, has been the Russian gas industry’s main business partner for over 40 years. Until 1994, this company was 100% state-owned. The state remains its largest shareholder (via the Austrian Industrial Holding), with a 31.5% stake in OMV.
In April 2004, OMV Gas GmbH (a 100% subsidiary of OMV AG) became the legal successor to contracts signed between Gazprom Export and OMV AG.
In 1968, OMV became the first Western company to sign a long-term natural gas purchasing contract with the USSR. From the start of supplies to January 1, 2015, Austria received over 190 bcm of Russian natural gas, including 3.95 bcm in 2014.
Due to Austrian gas market deregulation and the restructuring of OMV AG natural gas trade operations, the parties concluded an agreement that EconGas would replace OMV Gas International as the purchaser of Russian gas.
On September 28, 2006, Gazprom Export cancelled its existing contracts with OMV AG and another local company GWH (renamed Gazprom Austria (GPA) from February 27, 2013). These contracts were replaced with new ones signed by Gazprom Export with EconGas, GPA, and Centrex for Russian natural gas deliveries to Austria (from November 1, 2006 to December 31, 2027). GPA and Centrex also gained the right to direct gas sales in the Austrian market: specifically, in the provinces of Carinthia, Styria, and Salzburg (with the two companies signing corresponding contracts with end consumers).
Together with the Austrian company RAG and Germany’s Wingas, Gazprom Export is involved in the joint use of the Haidach underground gas storage (UGS) in Austria.
European price correction agreements signed – 17.01.2012