OMV Looks to Broaden Gas Supply Options Amidst Ongoing Russian Purchases
Austria’s oil and gas utility OMV is pursuing a broader mix of gas sources while continuing to purchase substantial volumes from Gazprom. This was reported by TASS, citing remarks from Alfred Stern, the head of OMV Group.
The top manager indicated that steps have already been taken to diversify supplies in the event that transit through Ukrainian territory ceases after 2024. In a recent interview, Stern noted that pipeline capacity needed to access alternative sources has been reserved, signaling a readiness to pivot quickly if required.
OMV’s strategy centers on several pillars. The company aims to raise its own production, deepen contracts with partners such as Equinor and BP, secure long‑term deals with Italy, and expand LNG purchases. Austria has also strengthened its storage capacity for gas, creating a more resilient buffer against disruption. According to TASS, this framework gives OMV the option to entirely replace Russian gas with other suppliers at any moment if the market conditions demand it.
Previously, it was reported that OMV had already reduced Gazprom‑supplied volumes compared with the preceding year, while still maintaining a robust import profile. This shift aligns with a broader European push to diversify energy sources amid geopolitical tensions and supply security concerns.
Alexey Chernyshov, the former chairman of Naftogaz, has commented that Ukraine may cease permitting Russian gas to transit to Europe after 2024. This prospect underscores the urgency for European buyers and their energy groups to diversify away from single‑supplier dependence and to build flexible import routes and storage strategies that can weather political and logistical changes. The discussions around transit routes and supply reliability highlight how strategic decisions at companies like OMV are intertwined with regional energy security, market design, and long‑term planning for Europe’s gas mix. The evolving landscape continues to shape OMV’s approach to balancing current needs with future resilience, as the company navigates regulatory, market, and geopolitical pressures in pursuit of a stable energy supply for its customers and partners. The emphasis remains on securing diverse procurement channels while maintaining reliable deliveries during a period of significant transition for European gas markets. This ongoing work reflects a pragmatic, long‑term view of energy security that many European energy groups are pursuing in tandem with state policies and market forces.