OMV Aims for April 1 Gazprom Talks to Narrow Natural Gas Prices
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OMV AG, central Europe’s biggest oil company, said the gap between natural gas spot prices and long-term supply contracts with Russia’s Gazprom OAO will continue to pressure earnings next year.
OMV’s next round of price reviews with Gazprom is April 1, said OMV gas and power head Hans-Peter Floren at a press briefing in London. The Austrian company pays Gazprom about 5 euros ($6.4) more for gas per megawatt hour than it could purchase the commodity on European spot markets, the Vienna-based company said today.