OMV Says Russian Gas May Halt After Arbitration Win Over Gazprom [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
Most Read from Bloomberg The award under International Chamber of Commerce rules was related to “irregular” German gas supplies in the months leading to September 2022, according to a statement late Wednesday. OMV said it will offset that amount against invoices under its long-term Gazprom supply contract, potentially setting up a “halt of gas supply” from Russia. While Russian pipeline flows over Ukraine are expected to end in December, when a transit agreement with Kyiv expires, the region's gas market has been particularly sensitive toward disruptions. Withdrawals from storage facilities have increased, adding pressure to the region's supply balance and pushing benchmark prices to their highest in a year. Gas surged as much as 5.4% on Thursday. “Austria can and will manage without Russian gas,” Energy Minister Leonore Gewessler wrote on X. “Nevertheless, it is clear that a sudden interruption in supply could cause tension on the gas markets.” OMV said it can meet gas suppl
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