Gazprom and OMV discuss Nord Stream 2, asset swap and oil supplies
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the OMV Executive Board.
The meeting addressed the status of the Nord Stream 2 project as well as possibilities of an asset swap and oil supplies to OMV from the Gazprom Group portfolio.
OMV is a major partner of Gazprom in Austria.
On September 4, 2015 Gazprom, BASF, E.ON, ENGIE, OMV and Shell inked the Shareholders Agreement to construct the Nord Stream 2 gas pipeline system with the capacity of 55 billion cubic meters of gas a year from Russia to Germany across the Baltic Sea.
Also on September 4, 2015 Gazprom and OMV signed the Term Sheet regarding an asset swap. Subject to the swap deal, OMV will acquire a 24.98 per cent stake in the project for developing Blocks 4A and 5A of the Achimov deposits at the Urengoy oil, gas and condensate field in exchange for Gazprom's participation in OMV assets.
On October 23, 2015 Gazprom and OMV signed the Memorandum of Understanding on oil supply to OMV from the Gazprom Group portfolio.