Austrian OMV AG Won't Sell Natural Gas to Ukraine
It was reported on Tuesday that Austrian Oil and Gas Group (OMV AG) would not sell gas to Ukraine
. Gerhard Roiss, the CEO of OMV, said: “Despite the higher prices we are able to offer to Ukraine, we will not do that. OMV's mission is to supply natural gas for long-term customers. ”
Roiss believes that Ukraine is unlikely to ban Russian’s transportation pipeline
of natural gas toward European. Russia Gazprom has also hinted that they will take all measures to ensure the supply of natural gas.
If the conflict between Ukraine and Russia becomes more intense, there is a way to ensure adequate gas supply in winter for European countries. That is to reach agreement with Brussels and Gazprom, increasing the gas supply of Nord Stream. Gazprom holds a 51% stake of Nord Stream line, which can transport Russian’s natural gas to Europe bypassing Ukraine.
According to Roiss, OMV’s natural gas reserves capacity has reached 88% and is trying to reach 100% by the end of October this year.