Gazprom, OMV Ink Additional Deal
Vienna hosted today the signing of an Addendum to the existing contract for gas supply to Austria between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Gerhard Roiss, Chief Executive Officer of OMV. The document is to adjust the contract terms and conditions to the changing market environment and make Russian gas more competitive in the Austrian market.
OMV & Gazprom to Build South Stream in Austria by 2016
Alexey Miller, Chairman of Gazprom's Management Committee and Gerhard Roiss, Chief Executive Officer of OMV inked a Shareholders Agreement for the South Stream Austria joint project company. The document was signed in Vienna today during a visit by Russian President Vladimir Putin to the Republic of Austria. The Agreement envisages the parties' cooperation while constructing the Austrian section of the South Stream gas pipeline with the annual capacity of 30 to 32 billion cubic meters running from the Hungarian border to the end point in Baumgarten.
Gazprom And OMV Chiefs Discuss Alternative European Gas Routes
The chief executives of Gazprom and OMV held talks on Tuesday about supplying Russian gas to Europe using routes that bypass Ukraine, they said in a statement. Gazprom's Alexei Miller and OMV's Gerhard Roiss said they had discussed "optional alternative supply routes" including the Nord Stream and Opal pipelines. Russia's seizure of Crimea from Ukraine - an important transit country for Russian gas - has resulted in European Union and U.S. sanctions, sparking fears of supply cuts that could affect several European countries.
OMV CEO Warns Against More Russia Sanctions
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.
Statoil: Divesting and Refocusing Portfolio
Statoil ASA has signed an agreement to divest minority interests in the Gullfaks and Gudrun fields offshore Norway and exit the non-core, non-operated Schiehallion and Rosebank fields, West of Shetlands. In addition to the cash consideration of USD 2.65 billion, the transaction with Austrian oil and gas company OMV includes a contingent payment and involves a partnership between the two companies. Statoil reduces its ownership share in Gullfaks from 70 % to 51 % and from 75 % to 51 % in Gudrun, and retains its operatorships on both fields. "Through this transaction, Statoil captures value created through asset development and unlocks capital for investment in high return projects in core areas. This includes our recent discoveries on the Norwegian continental shelf.