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.
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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@TomTurboInvest But the money has to flow first, and I don't exactly see the sponsor in GAZprom 🤷♂️
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@SAUgut77 OMV is deducting this directly from outstanding payments to Gazprom, fortunately there are enough outstanding debts, which is why Gazprom is stopping further deliveries from tomorrow. Otherwise OMV could shove the judgment somewhere else anyway, I agree with you 😅
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