Strategic Cooperation between Gazprom & OMV Continues
A working meeting between Gazprom Chairman Mr Alexey Miller and OMV Chairman Mr Rainer Seele took place in St Petersburg. The parties expressed appreciation for the strategic cooperation between Gazprom and OMV, noting in particular their successful collaboration on the development project for the Yuzhno-Russkoye field. For instance, the engineering and technological solutions that were developed for this field made it possible to start extracting hard-to-recover gas from Turonian deposits for the first time in Russia.
The meeting highlighted the more than 50-year-long history of reliable exports of Russian gas to Austria. The overall amount of supplies since 1968 has exceeded 260 billion cubic meters of gas.
Special attention at the meeting was paid to the Nord Stream 2 project, which is now in the final stage of its implementation.
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea. In 2017, Nord Stream 2 AG signed agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50 per cent of the total cost of the project.