Austrian OMV announced that it had won a dispute in a court in Stockholm in early January over a gas supply contract with Gazprom Export - this time in Austria. This is the second positive decision after the contract in Germany. “On 3 January 2025, the Stockholm Chamber of Commerce ruled in favor of OMV in an arbitration case regarding supplies under an Austrian contract, awarding compensation to OMV from Gazprom Export.“ In light of this favorable decision, the financial consequences of the partial compensation of the contractual obligations for the supply of Austrian gas were reflected in other operating income in 2025. in the amount of "48 million euros", OMV said in its report.
The demands on Gazprom itself The Austrian company partially compensated 48 million euros of its contractual obligations on December 23, 2024, before the end of the process. OMV started arbitration in 2023, seeking compensation from Gazprom Export "due to unpredictable deliveries" under a contract with Austria.
OMV terminated its contract with Gazprom, which was valid until 2040, in mid-December due to the suspension of supplies by the Russian company in November. This is due to the fact that OMV decided to restore the compensation awarded to it by the arbitration court in the dispute with Gazprom Export. 230 million euros for payment for the contract for gas supplies to Austria via Ukraine. The contractual supply shortfall for Germany that led to the dispute arose after the explosion of the "Nord Stream" gas pipeline and in the context of the unavailability of the Yamal-Europe gas pipeline due to sanctions.
However, in the fourth quarter of last year, OMV managed to obtain around 8 TWh (around 774 million cubic meters) of Russian gas. Now "OMV no longer has any supply agreements or trading assets in Russia", the company said. Fundraising under the Gazprom contract achieved a positive net effect in the fourth quarter of 2024 and led to an increase in OMV's operating results in gas trading by approximately EUR 210 million.
„To mitigate the impact of such a disruption in gas supplies from Russia, OMV has diversified its gas supply portfolio over the past three years and secured significant additional long-term transport capacity to Austria. As a result, even without future gas supplies from Gazprom Export, OMV will be able to fulfill its delivery obligations to its direct consumers, the company claims.