OMV Upstream explores and produces oil and gas in Europe, the Middle East, Africa, Russia and Australasia. In 2017, we produced 348,000 BOE per day (corresponding to 127.0 million barrels), of which oil and gas each accounted for approx. 50%.
As a full affiliate, OMV GAS has access to natural gas produced by OMV Upstream in both Austria and other European production centres.
In Austria, OMV has been active for over 60 years in the exploration and production of natural gas. The country continues to play an important role in the international oil and gas production programme of the company. Based on the current reserves, OMV expects that it will be able to produce oil and gas in Austria for at least another 20 years.
We get large quantities of natural gas from Norway. Here, we not only purchase gas through our supply chain partners, but we also have our own production - OMV Upstream has been delivering natural gas from large offshore fields in the North Sea since 2013.
The largest quantity of natural gas comes from Russia, with whom OMV has had a partnership for decades: on 1 June 1968, representatives of the Soviet state company Sojusnefteexport signed an agreement with the Austrian Mineralölverwaltung ÖMV and only three months later, on 1 September, the first shipment of natural gas arrived in the station of Baumgarten in Lower Austria. This put OMV on the map as one of the first western-European countries to import natural gas from Russia, the country with the largest natural gas reserves on earth. Now, fifty years later, it is still importing.
The construction of the Nord Stream 2 pipeline is also of high strategic importance to us. According to all predictions, the EU will need to import approx. 80% of the required natural gas in 2030. This means that extra transport capacity is urgently required. OMV is a financing partner of this pipeline project. The first construction works on the German touchdown point in Lubmin have already started. If everything goes according to plan, approx. 55 billion cubic metres of Russian natural gas should flow through the new pipeline to Germany by the end of 2019. Together with the Central-European gas hub in Baumgarten and the pipeline network of Gas Connect Austria, Nord Stream 2 will ensure continuous, long-term gas flows to Europe.
Liquefied natural gas (LNG)
The purchase of liquefied natural gas (LNG) offers interesting possibilities for supply in the long term. In December 2007, a contract was signed with the Rotterdam Gate Terminal for the regassification capacity of LNG. This formed an important step in the LNG trade. With this contract, we can regassify up to three billion cubic meter of natural gas each year.
All of the above-mentioned activities ensure a balanced purchasing portfolio for us, so that we can guarantee natural gas for you up to the distant future.