Gazprom and OMV forge pipeline through Austria
Each will hold a 50% stake in a new company that will build the South Stream pipeline
Gazprom and OMV have agreed to build a section of the South Stream pipeline through Austria. Alexei Miller, chairman of Gazprom’s management committee, and Gerhard Roiss, OMV’s chief executive, signed a shareholders agreement for South Stream Austria at a meeting in Vienna on 24 June. Gazprom and OMV will each hold a 50% stake in the new company, which will take charge of building the Austrian section of the pipeline. The Austrian portion will have a capacity of between 30 billion-32bn cm per year (cm/y) and will run from the Hungarian border to the end point in Baumgarten. Roiss said the agreement “cements the role of Baumgarten as a key European gas hub in Europe” and safeguards European
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
