OMV CEO Warns Against More Russia Sanctions

Posted by Joseph R. Fonseca
Saturday, April 19, 2014

 

Europe should avoid more sanctions against Russiaover its role in Ukraine and continue to pursue dialogue with Moscow, the chief executive of OMV , the longest-standing Western trade partner of Russian gas monopoly Gazprom, said.

The Austrian energy group signed its first long-term supply contract with the Soviet Union in 1968 and is a major importer of Russian gas.

"None of us can estimate what it would mean if no gas came from Russia to Europe, and if we can't calculate the consequences we shouldn't threaten it," Gerhard Roiss told Austrian ORF radio in an interview aired on Saturday.

The European Union is dependent on Russia for about a third of its oil and gas, and about 40 percent of the gas is shipped through Ukraine.

Two days after an international deal in Geneva to try to defuse the crisis in Ukraine, pro-Russian separatists have vowed not to end an occupation of public buildings. Washington has threatened further sanctions if the stalemate continues.

The United States and the European Union have so far imposed only targeted sanctions against a list of Russian and Ukrainian individuals and firms in retaliation for Moscow's seizure and annexation of Crimea from Ukraine last month.

Roiss said Europe needed a coordinated energy policy, especially to help countries such as Bulgaria and Slovakia, who are totally dependent on Russia for their gas supplies.

OMV's Nabucco consortium lost out last year in a contest to build a pipeline to bring new gas from Azerbaijan to Europe as part of an effort to diversify Europe's gas supplies.

The Nabucco West route would have travelled from Turkey to Austria throughBulgaria, Romania and Hungary.

"Europe learned little from the last crisis in 2009," Roiss said, referring to a dispute between Ukraine and Russia over gas supplies which resulted in supply disruptions in many European nations.

"It's important that there's a European dialogue with Russia on this subject."

Roiss urged Europe to think again about long-term strategic investments in energy infrastructure, including the production of gas within Europe.

Another Austrian industrial heavyweight, steelmaker Voestalpine's CEO Wolfgang Eder, said in an interview published on Friday Europe should consider allowing fracking for shale gas in sparely populated areas.

(Reporting by Georgina Prodhan; Editing by Janet Lawrence)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

Westermeerwind Wind Farm Construction Begins

Mammoet announced today that Westermeerwind BV has reached financial close on July 25 for the turnkey construction of the Westermeerwind wind farm in Ijsselmeer,

Gas Prices Help Offset Statoil's Output Drop

Statoil's second quarter 2014 net operating income was NOK 32 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.

LNG

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

MOL Commended with Quality Ship Awards

MOL Commended for ‘FY2013 Best Quality Ship Award’; MOL president Koichi Muto meets with captain and chief engineer, exchanging views and working to establish a more solid safe operation system.

ABS, MPA to Collaborate on Maritime R&D

ABS and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote maritime research and development (R&D) and innovation.

News

Canal Project Slows Panama Economy Growth

Panama's economy expanded in May at its slowest pace since 2009 as major public works projects, including an expansion of the Panama Canal, slowed or wrapped up,

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

USCG Change of Command in Galveston

A Coast Guard lieutenant commander and graduate of Hastings High School in Houston, took command of Maritime Safety and Security Team Galveston during a ceremony in Galveston Thursday.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1710 sec (6 req/sec)