The parties claim that the Central European Gas Hub will become continental Europe’s most important trading platform. This agreement is based on the memorandum of understanding signed by the companies in May 2007.
The agreement also includes joint storage projects, which aim at additionally strengthening the position of the Central European Gas Hub and providing the possibility of increasing its service offering even further.
The joint storage projects aim at providing services for both the region surrounding the Baumgarten hub and neighboring countries. Possible projects will be evaluated during the upcoming feasibility studies.
The co-operation also enhances the importance of the OMV gas compressor station in Baumgarten, Austria, wholly owned by OMV Gas, in its role as a physical natural gas hub for central Europe. Approximately, one-third of all Russian gas exports to western Europe are already transported via this platform.
