Austrian OMV to recheck terms of contracts for Russian gas supply

The Austrian oil and gas company OMV has instructed a German law firm to double-check the terms of long-term contracts with Gazprom for gas supply from Russia, the Austrian newspaper Kurier said on Thursday, citing sources close to the company.

According to them, an authorized law firm, with the support of the responsible department of the company, should verify the compliance with the necessary conditions for concluding contracts, the inherent risks, and the absence of an exit clause.

In 2018, Gazprom Export and OMV signed an agreement on gas supplies until 2040. On May 20, OMV opened an account with Gazprombank in euros to pay for gas supplies from Russia.