OMV secures 40TWh of extra gas capacity to plug dwindling Russian supplies
(Reuters) - Austrian energy group OMV said it had secured additional pipeline capacity for the coming gas year that would be enough to cover almost half of the group's annual demand and all of its delivery obligations in Austria.
The move comes after OMV said earlier this week it was receiving roughly 70% less natural gas than it ordered after the biggest pipeline carrying Russian gas to Germany began annual maintenance, reducing flows to Europe.
OMV's extra capacity is enough to generate 40 terawatt hours (40TWh) of power.
The new transfer points are the nodes Oberkappel in Upper Austria for a pipeline from Germany and Arnoldstein in Carinthia for a pipeline from Italy. They enable OMV to transport imported liquefied natural gas (LNG) and gas it produces in Norway to Austria.
"This is a decisive milestone in diversifying natural gas supply," OMV Chief Executive and Chairman Alfred Stern said in a statement.
He added the group had also made significant progress increasing its own natural gas storage to almost 80% of capacity.
Energy is at the centre of an economic standoff between the West and Moscow after Russia's invasion of Ukraine in February.
The West is anxiously waiting to see whether flows will resume after annual maintenance of the Nord Stream 1 gas pipeline from Russia to Germany is scheduled to end on July 21.
(Reporting by Zuzanna Szymanska; editing by Matthias Williams)
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