The Austrian oil and gas company OMV AG (OMV.VI) and Russia's Gazprom have reached an interim agreement with its long-term natural gas contracts, OMV said Monday.
The Austrian oil and gas company OMV AG (OMV.VI) and
Russia
's
Gazprom have reached an interim agreement with its long-term natural gas
contracts, OMV said Monday.
MAIN FACTS:
-The fully consolidated OMV subsidiary EconGas has reached an interim agreement
with its long-term natural gas supplier Gazprom Export, effective as of
April 1, 2013
, OMV said.
-Under this interim agreement the terms of the long-term gas supply contract
have been adjusted to more closely reflect the current market conditions on
European gas markets and there exists a further possibility to review the
contractual terms established in the near future, OMV said.
-OMV declined to disclose further details of the adjustments to the contracts
due to the confidentiality agreements, the company said.
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