1Mes·

Russia turns off Austria's gas $OMV (-0,69%) the gas with immediate effect

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Russia will stop its gas supplies to Austria from Saturday. This was announced by the Austrian energy company OMV. The partly state-owned energy and chemicals group OMV had previously been awarded 230 million euros by an arbitration court in its dispute with Russia's Gazprom. OMV therefore considers the gas supplied from Russia to be paid until this amount is reached.


In response to this, a complete halt to deliveries from Moscow is conceivable, OMV conceded.


This is now apparently happening immediately.

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15 Commenti

immagine del profilo
The $OMV one of my favorites😀

With a consistent diversification strategy, OMV has successfully built up an extensive alternative gas supply from non-Russian gas as well as additional gas supply capacities over the last 3 years. OMV's gas portfolio includes various supply sources from Norway and additional long-term LNG volumes. OMV confirms that the company will be able to deliver the contractually committed gas volumes to its customers even in the event of a potential supply disruption from Gazprom Export.

This is due to the planned implementation of the arbitration award, which awards OMV €230m. The supply freeze will result in minor one-off hedging losses, although the positive effects of the damages awarded will clearly outweigh this.
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immagine del profilo
This could well mean that energy prices will rise in Austria, which will probably have an impact on some companies and will not help to combat inflation.
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immagine del profilo
Conceivable, apparently...very vague
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Can Gazprom still be so picky about bulk buyers? 😅
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Very good
immagine del profilo
Not helpful for fighting inflation if energy prices rise now
immagine del profilo
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