Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media platform: The Degel HaTorah party, which has four members in the Knesset, announces its withdrawal from Netanyahu's cabinet.
Local Syrian sources: The raids targeted the road between the village of Al-Mazra'a and the city of Sweida, where forces and factions affiliated with the Syrian Ministry of Defense are advancing.
Local Syrian sources: New raids carried out by Israeli warplanes targeted vehicles and gatherings of military factions affiliated with the new Syrian Ministry of Defense.
Local Syrian sources: Israeli raids target, for the third time, gatherings of Syrian Defense Forces military factions in the southern countryside of Sweida.
The Ministry of Health in Gaza: Gaza Strip hospitals received 120 martyrs and 557 wounded in the past 24 hours.
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis

Austrian company says remains committed buying Russian gas

  • By Al Mayadeen English
  • Source: Agencies
  • 9 Jul 2023 13:51
3 Min Read

Austrian oil and gas company OMV plans to continue purchasing a significant amount of gas from Russian energy giant Gazprom, despite having alternative contracts, citing legal obligations and potential price hikes.

  • x
  • The logo of Austrian oil and gas group OMV is pictured on an oil tank at the refinery in Schwechat, Austria, October 21, 2015 (Bloomberg)
    The logo of Austrian oil and gas group OMV is pictured on an oil tank at the refinery in Schwechat, Austria, October 21, 2015 (Bloomberg)

Austrian oil and gas company OMV has announced its intention to continue buying from Russian energy giant Gazprom, even after securing alternative contracts from other sources to fulfill Austria's import needs, Sputnik reported citing OMV Group CEO Alfred Stern.

CEO Alfred Stern confirmed that OMV will continue to honor its long-term agreement with Gazprom, citing legal obligations and the potential for price increases if certain sources are eliminated.

"As long as Gazprom will supply … we will continue to take these quantities from Gazprom … There is an obligation we have as an industrial company to ensure that we use those sources as long as they are legally acceptable," Stern told the Financial Times newspaper.

The question of potential Western sanctions on Russian gas, Stern argued, is a matter for policymakers to decide. However, he cautioned that restricting certain sources could lead to price hikes.

The CEO's remarks highlight OMV's commitment to the long-term supply contract with Gazprom, which was extended until 2040 in 2018.

Read more: Russian gas supply to Europe via Ukraine 9.5% up: Gazprom

Earlier this week, Roman Haider, an EU lawmaker from the Freedom Party of Austria, told Sputnik that Austrian Energy Minister Leonore Gewessler is a "delusional green deal fanatic" who needs a reality check after the latter called on domestic suppliers to accelerate the process of decoupling from Russian gas despite that no alternative has been found so far to Russian oil. 

Related News

Bolton dismisses Trump’s Nobel hopes over Ukraine policy shift

Trump threatens 100% secondary tariffs on Russia, sets deadline

Gewessler's controversial call was issued on Monday during a meeting with energy companies.

"This minister is a delusional green-deal-fanatic. She has no idea how to shift away from Russian gas, so she invited the gas suppliers to tell her how. After the meeting, she didn't know any more than before. The truth is that Austria has no alternative to Russian gas," Haider said.  

Haider also ridiculed a deal that Gewessler signed with the UAE in October 2022 for the supply of LNG, noting that it would only cover 1% of Austria's energy needs. 

He further pointed out that since November 2022, Austria's share of Russian production has increased considerably, reaching 70% in December 2022. 

Read more: Austrian lawmakers walk out during Zelensky address to parliament

Back in June, Germany's Economy Minister Robert Habeck warned that Europe's largest economy could end up shutting down industrial production if Ukraine's agreement with Russia to transit gas to Europe is not extended. 

The gas transit deal, which is set to expire at the end of 2024, is still a main source of energy for countries such as Italy, Austria, Hungary, and Slovakia, and remains a source of revenue for Kiev, which earns transfer fees by allowing gas passage through its territory.

Check out: Countries still buying Russian fossil fuel

  • Russia
  • gas
  • Western sanctions
  • Austria

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Al Mayadeen: UN Palestine Inquiry members reportedly resigned
Politics

Al Mayadeen: UN Palestine Inquiry members reportedly resigned

Rutte, Trump
US & Canada

Trump threatens 100% secondary tariffs on Russia, sets deadline

Syrian government soldiers on a motorcycle pass by a burning tank on the outskirts of Sweida city, where clashes erupted between the Druze community and Bedouine clans, in southern Syria, Monday, July 14, 2025 (AP)
Politics

Israeli airstrikes target Syrian military factions near Sweida

Lebanon, US, disarmament
MENA

US pressure on Lebanon grows over Resistance disarmament plan

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS