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OMV still intends to pay in euro for gas purchased from Russia

24 March 2022

OMV CEO Alfred Stern announced on Wednesday that the Austrian group will continue to pay in euro for gas purchased from Russia, despite President Vladimir Putin’s decision that Russia will no longer accept payments in dollars or euros for its natural gas supplies to “hostile countries”, informs AFP.

“Of course we will continue to settle our payments in euro and not in rubles. We do not have another contractual basis. I would not have been allowed to do otherwise. Nobody called us (-from the Russian side), we have contracts and for the time being, they do not provide for payment in rubles. For now, I will wait to see if anyone will contact us,” Alfred Stern, the general manager of OMV, told the Austrian television station Puls 24.

About 80% of the natural gas used in Austria is imported from Russia, and OMV buys it from the Gazprom group, according to Agerpres.

A few days ago, Alfred Stern warned that replacing Russian energy supplies would not be easy and would require large investments in infrastructure, such as gas terminals.

“Austria does not have direct access to liquefied gas terminals. There are currently only limited options for bringing liquefied gas to Austria,” said Alfred Stern, adding that a termination of the contract with Gazprom is not currently being considered.

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