Austrian integrated oil and gas company OMV announced on Nov. 13 that it had secured an arbitral award from the International Chamber of Commerce exceeding $243 million. This ruling relates to irregularities in German gas supplies provided by Gazprom.

European gas futures jumped to their highest level in a year. This was due to fears that Gazprom may cut off supplies to Austria, Bloomberg reports. Futures on the TTF hub in the Netherlands rose by 3.

Austria is preparing for its first winter without Russian gas. What will this mean for the country’s supplies and energy costs?

Austrian energy player plans to enforce arbitration award from Russian company revenues for remaining exports to Europe

Much of the region has weaned itself off Moscow in recent years, with Austria — OMV’s home market — and Slovakia the main remaining importers of gas piped via Ukraine. These flows are expected to end Dec. 31 unless an alternative arrangement is made ...

EADaily, November 14th, 2024. The price of gas in Europe exceeded $ 500 per thousand cubic meters. A new movement was given to her by news from Austria, where OMV announced the winning of compensation from Gazprom in arbitration and plans to receive it from payments that Austrians make for Russian gas on a monthly basis.

Austria is preparing for Moscow to turn off the taps that kept Russian gas flowing for more than a half century, as OMV AG enforces a ruling against Gazprom PJSC. Most Read from BloombergUnder Trump,

Goerlich and Nina Chestney VIENNA/LONDON (Reuters) - Russian gas supply to oil and gas company OMV in Austria is at risk of stopping before the end of the year due to an arbitration case against Gazprom,