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Home News Austria’s OMV to still pay for Russian gas in euros

Austria’s OMV to still pay for Russian gas in euros

Published on 23/03/2022
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Austria’s OMV energy company said Wednesday that it would still pay for Russian gas in euros, despite President Vladimir Putin’s move to force EU countries to pay in rubles.

In comments to Austrian TV station Puls 24, OMV CEO Alfred Stern said that the company would “of course” continue to pay in euros.

“We don’t have any other basis for the contract. I wouldn’t be able to do otherwise,” he added.

He said that while he had seen the press reports about Putin’s announcement, “no-one has called us, we have our existing contracts and that’s not what’s agreed in them”.

In another interview last week Stern said Austria’s alternatives to Russian gas — which OMV imports from Russia’s state-owned energy giant Gazprom — were “very limited”.

Earlier this month OMV announced it would not pursue negotiations to buy a share in a gas field in Siberia.

That announcement came hot on the heels of similar moves by British companies Shell and BP in the wake of Russia’s invasion of Ukraine.

OMV was also invested in the controversial Nord Stream 2 pipeline project that has been halted in reaction to the war.

The company, active in more than 120 countries, is 31.5 percent owned by the Austrian state and employs some 25,000 people.