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Supply Stop and Human Rights Allegations for OMV
OMV, Austria's leading energy company, is currently under immense pressure. Two developments could have a significant impact on the company and the Austrian energy market: the threat of Gazprom stopping gas supplies and serious allegations of involvement in war crimes against former OMV executives in Sudan.
May 22, 2024
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Flow-Through Capital Despite Sanctions: Russian Investments in Austria Continue to Flow
While international tensions and the war in Ukraine, which has been going on for more than two years, are putting a heavy strain on relations between Russia and the West, Austria remains a remarkably robust magnet for Russian investment. Contrary to expectations that the extensive international sanctions against Russia would curb capital flows, the latest data from the Austrian Ministry of Economic Affairs' investment control report shows a different reality: Russian investments in Austria rose by 14% to EUR 25.5 billion in the first half of 2022.
April 22, 2024
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Austria Plans to Withdraw from Russian Gas Contracts
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In a decisive step against continued energy dependence, Energy Minister Leonore Gewessler (Greens) announced that she would end the gas supply contracts between OMV and the Russian company Gazprom. The contracts, which run until 2040 and oblige Austria to purchase significant quantities, are under critical review. Gewessler commissioned the Economic Research Institute (WIFO) to carry out a detailed analysis of the economic consequences of termination and the risks of continued dependency.
February 12, 2024
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Ukraine Will Block Gas Transit: Challenges and Opportunities for OMV and Europe
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Ukraine's decision to stop transiting Russian natural gas to the West from 2025 poses a significant challenge for OMV and for several European countries. The announcement, made by the head of Ukrainian energy company Naftogaz, Olexiy Chernyshov, raises several questions about energy security and dependence on Russian gas.
October 29, 2023
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Gazprom Austria Inventory is Now Being Auctioned Off
The Gazprom subsidiary in Austria has become insolvent, and now its assets are being auctioned off at the Aurena auction house. The offer includes 240 exhibits and the purchase of Russian business memorabilia.
May 22, 2023
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Ex-OMV Chief Doubts Policy Statements on Russian Gas Pullout
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Russian gas supplies to Austria are currently causing discussions. While the Austrian government wants to do without gas supplies from Russia altogether by 2027, OMV refers to long-term contracts.
March 1, 2023
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Gas Pipeline Explodes in Russia
A Russian gas pipeline, which also exports gas to Austria, exploded while repair work was being done there. The explosion occurred in the Chuvashia region and killed three people.
December 20, 2022
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OSCE's Dilemma over Bulgaria's Parliamentary Elections
The OSCE Office for Democratic Institutions and Human Rights (ODIHR) opened its election observation mission on the 2 October early parliamentary elections in Bulgaria, following an official invitation from the national authorities. The OSCE mission will face political turmoil in a country fighting corruption, threatened to be overshadowed by Russian influence and the war in Ukraine
August 31, 2022
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NATO and EU Military Committee Meet Regarding Western Balkans
A joint meeting of the NATO Military Committee and the European Union Military Committee was held to discuss the current security situation in the Western Balkans as well as the EU's ongoing Operation Althea. In the context of the Russian military aggression on Ukraine, stability in the Balkans increases in importance.
March 29, 2022
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How Gazprom Helps the Kremlin to Manipulate Austria
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The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.
March 8, 2022
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Putin's People in Austria and Beyond
Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.
February 25, 2022 · Updated: February 25, 2022; 11:23
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Austria's List of Pro-Kremlin Lobbyists Has One Cooperation Partner Less
The Austrian Freedom Party (FPÖ) has announced that it will not extend a memorandum of understanding (MoU) with the United Russia (Единая Россия) party, a nationalist-conservative rallying party. It is the party with the largest membership in the Russian Federation under party leader Dmitry Medvedev, who supports Vladimir Putin's course. However, Russia can still rely on other former Austrian politicians. Read on to see who the most prominent supporters are.
December 16, 2021 · Updated: January 4, 2022; 14:50
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Embassy Building “Palais Nassau” in Russian Possession for 130 Years
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To mark the 130th anniversary of the Russian acquisition of the "Palais Nassau" in Vienna for embassy purposes, Russian Ambassador Dmitrij Ljubinskij presented a special postage stamp and stamp block and ceremoniously stamped them. The ambassador also gave a brief speech on the occasion. Read more about the event and the embassy.
October 7, 2021
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What is Lukoil and What Does It Do in Austria?
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Lukoil Oil Company is the second largest Russian oil multinational with a turnover of USD 102 billion, of which approximately USD 250 million comes from Austria. Lukoil has been represented in Austria since 1995 and currently operates from Vienna four subsidiaries with activities in 40 countries.
March 13, 2019
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Austria's Dependence on Russian Gas Increased by 33 Percent
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The effects of the amendment to the contract on gas supplies from Russia to Austria signed last year become visible. A meeting in Moscow between Rainer Seele, Chairman of the Executive Board of OMV, and Alexey Miller, Chairman of the Gazprom Management Committee, revealed that gas deliveries between January 1 and March 5, 2019 increased by 32.9 per cent compared to the same period last year.
March 6, 2019
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Art Fair: Old Masters from the Hermitage - Masterpieces from Botticelli to van Dyck
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One of the world’s foremost collections of Old Masters is paying a visit to Vienna: fourteen masterpieces from the Hermitage Museum in St. Petersburg will enter into a dialogue with great paintings from the Kunsthistorisches Museum Vienna. On show are, for example, works by Botticelli, Tintoretto, Rembrandt and van Dyck.
June 6, 2018
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OMV Celebrates 50 Years of Lucrative Natural Gas Business![premium content](https://www.vindobona.org/images/cont/icon_premium_small.gif)
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On 1 June 1968, a historic gas supply contract was signed in Vienna, establishing Austria’s role as a key country in Europe’s natural gas network. The 50-year collaboration with Russia is a win-win situation. Then, as now, natural gas plays a key role in OMV's portfolio, as European demand will continue to increase over the next decades. OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.
June 6, 2018
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Putin's Austria Visit: Extension of Gazprom Gas Supply Contract until 2040
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OMV has formally confirmed the extension of the gas supply contract with Russia's Gazprom on the occasion of the visit of Russian President Vladimir Putin to Austria by the two CEOs Alexey Miller and Rainer Seele.
June 6, 2018
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Vladimir Putin on PR Campaign in Austria![premium content](https://www.vindobona.org/images/cont/icon_premium_small.gif)
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Vladimir Putin is on his sixth official state visit to Austria. Officially, on the occasion of the 50th anniversary of the gas supply contract between Austria and Russia, this is a working visit to President Van der Bellen and Chancellor Kurz. In fact, a new gas supply contract between Gazprom and OMV is the main reason for the visit. Other gas deals are still in the negotiation phase, namely the Gazprom Urengoy gas field asset swap and the Nordstream 2 pipeline project. The Central European Gas Hub in Baumgarten/Lower Austria, an important gas distribution hub from the Russian perspective, could also be on the agenda.
June 5, 2018
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Former Finance Minister Schelling Appointed Gazprom Advisor
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Hans Jörg Schelling, former Austrian Minister of Finance until December 2017, has signed an advisory contract with Nord Stream 2 gas pipeline three months after his handover. OMV is also involved in the project, of which he was the owner's representative as Austrian Minister of Finance.
March 30, 2018
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Chancellor Kurz Visits President Putin: "The situation in Syria is dramatic"
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Austrian Chancellor Sebastian Kurz traveled to Moscow to meet Vladimir Putin. The focus of the trip was a working meeting with the Russian President, with whom Kurz discussed, among other things, the bilateral relations of both countries, the relationship between Russia and the EU, the Ukraine conflict and the current situation in Syria.
February 28, 2018
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How do Russian Politicians and Oligarchs Withdraw their Money from Austria?
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The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.
February 22, 2018
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OMV Aktiengesellschaft / OMV reached a binding "Basic Agreement"with Gazprom on the potential asset swap
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OMV reached a binding "Basic Agreement" with Gazprom for a potential asset swap transaction. The execution of the Basic Agreement was approved in today's meeting of the OMV Supervisory Board but is still subject to signing of the Basic Agreement by the parties. The signing is expected to take place during the course of today.
December 14, 2016
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Voestalpine to Supply Linepipe Plates for the Second South Stream Pipeline
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This year sees the voestalpine Group securing its third major contract in the pipeline business. Following the first, now completed, contract for the Russian-European pipeline project South Stream, and for Rota 3, a pipeline project in Brazil, voestalpine will deliver 120,000 tons of sour-gas-resistant, high-strength linepipe plates for the second South Stream pipeline by spring 2015. The South Stream contract is not affected by sanctions. Further negotiations are also currently underway concerning extremely challenging pipeline projects.
September 5, 2014
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Analysis: The South Stream Gas Pipeline
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Due to the signing of the South Stream agreement between OMV and Gazprom for the Austrian part of the pipeline during Putin's visit to Vienna, we take a look at the background of the project.
June 25, 2014
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Agreement with Gazprom Neft ensures full utilization of new
capacities until end of 2016
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Agreement with Gazprom Neft ensures full utilization of new capacities until end of 2016
June 24, 2014
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Gas Deal: China to Invest $22Bln, Russia to Invest $55Bln
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Russia’s overall investment on delivering gas to China is $55 billion and China’s investment is estimated at around $22 billion according to a contract signed by the two countries in Shanghai, Russian President Vladimir Putin said Wednesday.
May 21, 2014
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OMV to Receive Further Gas Discounts by Gazprom
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As reported by Austrian daily “WirtschaftsBlatt” (Thursday issue), Austrian oil company OMV will soon sign a deal with Russian state-controlled Gazprom.
May 14, 2014
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Dispute about Gas between Russian and Ukraine about to Escalate
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According to Russian energy giant Gazprom, Ukraine has not yet paid deliveries of natural gas in the amount of around € 639m.
October 29, 2013
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Serbia’s Participation in South Stream Not at Risk
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According to Petar Skundic, Serbian energy advisor to the Prime Minister, the gas pipeline project is not imperiled by the government’s austerity measures.
October 14, 2013
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Gazprom May Face Proceedings by Austrian OMV
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OMV considers arbitral proceedings against Russian Gazprom in case no joint solution will be found.
October 9, 2013
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Poland Hopes for Cheap Gas by Gazprom
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The Polish government is hoping to be able to bargain prices with Russian energy giant Gazprom, Polish Minister for Economy Janusz Piechocinski announced today.
October 8, 2013
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EU Commission to Lead Cartel Proceedings Against Gazprom
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The Russian energy giant Gazprom might face penalties of up to € 11bn.
October 3, 2013
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Gazprom to Team Up With Macedonia
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Russian energy giant Gazprom is interested in cooperating with FYR Macedonia.
September 17, 2013
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Serbia Welcomes Russian FDI
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Serbian Prime Minister announced that his country was interested in Russian investments.
September 13, 2013
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Romania Claims Compensations for Nabucco
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Romania claims EU compensation for abandoned Nabucco project.
August 29, 2013
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Ukraine Reduces Imports of Gas by 35 Percent
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From January to June 2013, Ukraine was able to reduce gas import by more than 35 percent compared to the same period last year, according to Ukrainian Statistics Service.
August 16, 2013
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Gazprom Acquires Kirghiz Gas Network
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In return for a symbolic purchase price, the Kirghiz natural gas network is taken over completely by Gazprom. The Russian energy giant intends to invest billions of rubel in infrastructure.
July 29, 2013
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Bulgaria: South Stream Offers 6,000 New Jobs
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South Stream Bulgaria´s CEO Georgi Gegov stresses the economic effect of the new gas pipeline from Russia to Western Europe.
July 18, 2013
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Serbia to Invest € 10bn in Energy Sector
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Serbia will invest € 10 bn in the development of the energy sector in the next eight years.
July 12, 2013
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Gazprom Runs Risk Of Losing Leading Position
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Currently, only state-controlled energy giant Gazprom is permitted to export gas. Due to cooperations with French Total and Chinese enterprises, Moscow now intends to open the market.
July 9, 2013
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Rosneft to Take Over Itera Completely
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Russian oil producer Rosneft has taken over gas corporation Itera completely and now wants to compete against energy giant Gazprom.
July 2, 2013
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Gazprom Withdraws from Greek Privatization Offer
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The months of courtship were in vain. The Russian enterprises Gazprom and Sintez allowed the period prescribed for the privatization of Greek gas company Depa to expire.
June 12, 2013
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Macedonia to Join South Stream Pipeline Project
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Contracts will be signed next week in St. Peterburg.
June 12, 2013
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WIIW: FDI in CESEE to Decline
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The Vienna Institute for Economic Studies (WIIW) forecasts a decrease of 20 percent in foreign direct investments.
June 7, 2013
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Russia: Gazprom Looking for Alternative Markets
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After 40 years of a surge in revenues, Russian energy giant Gazprom has to face turbulent times in Europe.
June 3, 2013
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Rosneft to Take Over Itera
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According to a newspaper report, Rosneft intends to take over Russia’s second biggest gas supplier Itera for around € 2.3bn.
May 28, 2013
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Serbia to Receive Russian Support in South Stream Project
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Russia to provide € 1.7bn for construction of South Stream gas pipeline project in Serbia.
May 27, 2013
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Voestalpine Hopes for Participation in South Stream Project
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CEO Eder announced the Austrian Steel Manufacturer was leading “intensive” talks with Russian energy company Gazprom.
May 16, 2013