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OMV and Equinor sign five-year gas supply contract

OMV, the integrated energy company headquartered in Vienna and Equinor, an international energy company headquartered in Norway signed a long-term contract for the sale and distribution of natural gas.

Starting from 1 October 2023, a quantity of 12 terawatt-hours (TWh) per year will be delivered annually to the virtual Trading Hub Europe (THE) in Germany for the next five years.

With these new volumes, OMV continues its gas diversification strategy. OMV is purchasing natural gas from its own production sources in Norway and Austria. Furthermore, it has contracted long-term LNG regasification capacities at the GATE terminal in Rotterdam. The company also participates as a potential buyer in the EU Joint Gas Purchasing Platform auctions and has access to all major Central and North-West European natural gas trading and capacity marketplaces.

The new bilateral agreement builds upon the long-standing relationship between the two companies and adds to the volumes under already existing contracts. The contract is priced at market terms.

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