OMV said that despite the current cancellations of Russian gas shipments, the gas supply to Austrian customers under current conditions can still be guaranteed due to compensating measures via storage facilities, domestic production, and imports from Western Europe.

The company has announced that its subsidiary EconGas can rely on storage reserves for a total volume of 1.7 billion cubic meters (bcm). In order to further guarantee supply security, storage reserves have been made available in their entirety and supplied via the pipeline system Austrian So the present cancellation of Russian natural gas can be fully compensated through the company’s storage reserves at the moment.

According to the company, Austrian gas consumption amounts to around 8 bcm per year.  Approximately 51% of this volume comes from Russia, 31% from Norway and other countries and 18% from Austrian own production.  With its production of Austrian 1:31 bcm per year, OMV meets 16% of the domestic gas demand. 

OMV Gas & Power is engaged in gas and power business.  Its activities include gas supply, marketing and trading (with the subsidiaries EconGas and the Petrom gas activities), gas logistics (with the subsidiaries OMV Gas, Nabucco Gas Pipeline International, Adria LNG, Gate terminal in Rotterdam) and the Central European gas hub.