Gazprom and OMV Ink South Stream Deal

Gazprom’s CEO Alexey Miller and CEO of OMV, Gerhard Roiss, signed a deal on Tuesday to build the Austrian branch of the South Stream gas pipeline.

The two company’s formed South Stream Austria, a joint venture in which both Gazprom and OMV will have a 50 percent stake each.

“This investment in European energy security will fully comply with the EU legislation,” Roiss said after the signing ceremony which took place in Vienna.

LNG World News Staff, June 24, 2014; Image: OMV

 

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