Gazprom and OMV address issues of bilateral cooperation
As part of the 5th St. Petersburg International Gas Forum, a working meeting took place today between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the OMV Executive Board.
The parties addressed the issues of bilateral cooperation, particularly, gas supplies to Austria as well as the implementation of the Nord Stream 2 project. In addition, the meeting participants discussed a possible asset swap.
OMV is a major partner of Gazprom in Austria.
On September 4, 2015 Gazprom, E.ON, Shell, OMV, BASF and ENGIE 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.
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 participating interest in OMV assets.