The deal was signed on the day of Russian President Vladimir Putin’s visit to Vienna, in what was his first trip to the West since visiting Finland in mid-2017 and being re-elected earlier this year. The previous gas deal with Austria was set to expire by 2028.
Russia’s gas giant Gazprom and Austria’s OMV energy company signed a new deal to extend Russian gas supplies to Austria through to 2040.
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Last year, Gazprom increased gas supplies to Austria by more than 50 percent to 9 billion cubic metres, from 6.1 billion cubic meters in 2016. In 2018, Russian gas exports to Austria climbed by an additional 70 percent between January and mid-May as compared to the same period in 2017.
Putin’s visit and the fresh accord were part of celebrations marking 50 years since energy firms OMV and Gazprom first signed a gas supply deal.
OMV is also one of four Western partners to Gazprom’s Nord Stream 2 project to export gas to Western Europe through Germany. The consortium that oversees the project said last month it was starting preparatory work off Germany’s Baltic coast.