Austria increases Russian gas imports by 77% since the start of 2018

ST. PETERSBURG, Russia -- A working meeting between Alexey Miller, chairman of the Gazprom management committee, and Rainer Seele, chairman of the executive board of OMV, took place in St. Petersburg on April 9.

The parties addressed the ongoing and future cooperation, noting that after its record-breaking year for Russian gas imports in 2017, Austria continued to show dynamic growth in gas demand. According to preliminary data, from January 1 through April 8, 2018, Gazprom had supplied Austria with 3.7 Bcm of gas, a rise of 77.2% compared to the same period of last year.

The meeting noted the high reliability of gas supply, including during the peak cold period in Europe between late February and early March, when only Gazprom was able to increase deliveries and provide consumers with the required volumes of gas.

The parties also discussed the progress of the Nord Stream 2 pipeline project from Russia to Germany across the Baltic Sea.. At present, work is underway on obtaining construction and operational permits. When completed, Nord Stream 2, will have an annual capacity of 55 Bcm.

Background

In 2017, Gazprom set a new record for gas exports to Austria at 9.1 Bcm, a 50.3% from 2016 (6.1 Bcm) and 33.7% increase from 2005, when the previous record was reached (6.8 Bcm). OMV is Gazprom’s main partner in Austria. The companies cooperate in gas production, transportation and supplies.