Austrian company OMV won a court case against Gazprom regarding gas supplies.
Stockholm Chamber of Commerce rules in favor of OMV
Austrian oil and gas company OMV has won a dispute regarding the gas supply contract. The Stockholm Chamber of Commerce has set a compensation of 48 million euros that 'Gazprom Export' must pay to OMV. This was reported in OMV's fourth quarter report for 2024.
The court's decision was made on January 3, 2025, and includes compensation for violations of the Austrian gas supply contract. Another impact on OMV's financial situation is reflected in their report for 2025.
OMV notes that Russia's invasion of Ukraine and the consequences of sanctions led to disruptions in gas supplies to Austria, causing significant losses for the company due to high gas prices and instability.
In January 2023, OMV approached the Stockholm Chamber of Commerce claiming compensation for losses due to supply disruptions from 'Gazprom Export'. After the complete cessation of supplies, OMV terminated the contract with immediate effect.
As of December 23, 2024, OMV announced a partial write-off of losses amounting to 48 million euros against the Austrian gas supply contract. However, due to the lengthy legal process at that Time, OMV did not include this income in the report for 2024 and considered it a contingent asset.
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