European Gas Rises After Uniper Breaks Ties With Gazprom [BNN Bloomberg (Canada)]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
Company Research
Source: BNN Bloomberg
Benchmark futures rose as much as 2.9% after the news was announced Wednesday. While Uniper itself hasn't received gas from Russia since 2022, other states in Europe continue to rely on deliveries from the country, with Austria's OMV AG warning recently that court rulings risk disrupting supplies. While Europe has branched out its network of suppliers since the energy crisis that battered its economy in 2022, the market remains fragile to unexpected disruptions. Austria still imports around 80% of its gas from Gazprom. In a worst case scenario, if Gazprom doesn't pay the damages and the ruling by the Stockholm-based tribunal is enforced strictly, OMV may be forced to redirect payments to Uniper. That would put OMV's payments to Gazprom at risk, potentially disrupting remaining supplies. A spokesperson for OMV declined to comment. A host of factors have sparked volatility in gas prices recently, even as the region's fuel inventories are well above usual levels for the time of
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- Europe Set to Receive Russian Gas for Now Amid Fears of Cutoff [BNN Bloomberg (Canada)]BNN Bloomberg
- Europe's Gas Traders Are Watching These Drivers This Summer [Yahoo! Finance Canada]Yahoo! Finance Canada
- Europe's Gas Traders Are Watching These Five Drivers This Summer [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Europe's Gas Traders Are Watching These Five Drivers This Summer [BNN Bloomberg (Canada)]BNN Bloomberg
- European Gas Rises After Uniper Breaks Ties With Gazprom [Financial Post (Toronto, Ontario, Canada)]Financial Post