Russian Gas Supply to Austria at Risk From Gazprom Court Case [Yahoo! Finance 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!
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Source: Yahoo! Finance Canada
(Bloomberg) -- Austria's reliance on Russian natural gas is being tested, after OMV AG warned traders that European courts could interrupt its payments to Gazprom PJSC. Most Read from Bloomberg A failure to pay the Kremlin-controlled gas giant on time would likely interrupt supplies, OMV said late Tuesday in a so-called urgent market message. Gazprom has covered more than 80% of Austrian imports over the last seven months under a long-term contract running until 2040. ADVERTISEMENT The warning stems from a “foreign court decision obtained by a major European energy company,” OMV wrote in a statement. Should Austrian courts enforce the decision, potentially disrupting OMV payments, it's “likely that Gazprom Export will halt supplying gas,” it said. OMV said its doesn't know whether or when such an enforcement might happen. An interruption to Russian supplies could lead to a “short-term” increase in prices, Austrian regulator E-Control said Wednesday in a statement. However
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News
- 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