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Thursday, May 26, 2022
HomeLatest NewsHead of OMV Stern: Europe's economy is not ready to give up...

Head of OMV Stern: Europe’s economy is not ready to give up Russian gas

According to Stern, the denial of gas supplies from the Russian Federation will have “large-scale consequences” for Europe’s industry.

“Households consume an average of around 20% of gas per year, around 35% we need for energy production and around 40% for industry. But now that is not the point, the point is that we want to maintain our economic activity. this will no longer be entirely possible,” Stern said.

The head of the OMV has recalled that the EU’s gas supply is not provided by its own production in Europe, but by supplies from Russia. Stern also added that OMV is now exploring ways to pay for Russian gas without violating sanctions requirements.

A week earlier, in a report, OMV said it did not expect Russian gas supplies to stop. On April 21, it became known that the company had stopped importing and refining oil from Russia. At the same time, in early February, Alfred Stern actively opposed the isolation of Nord Stream 2.


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