The Austrian oil and gas company OMV has terminated its long-term gas supply contract with the Russian gas company Gazprom Export, a subsidiary of Gazprom, due to “multiple fundamental breaches,” according to [press release](https://www.omv.com/en/media/press-releases/2024/241211-omv-announces-termination-of-austrian-supply-contract-with-gazprom-export-with-immediate-effect) from the company.
The contract, signed in 2006, was set to last until 2040. However, gas deliveries from Gazprom Export were halted on November 16. The day before, OMV had reported receiving notice of the complete cessation of supplies.
The press release states that OMV’s gas storage facilities are approximately 85 percent full. The company also sources gas from various alternative channels, including “its own gas production in Norway and Austria, third-party gas producers,” and “additional long-term LNG volumes.” The release adds that “OMV can fulfill all its customer contracts with these alternative gas supplies.”