OMV: Sanctions on Russia 'Will Not Hinder' South Stream

August 4, 2014

Austrian energy concern OMV has assured restrictive EU measures against Russia will not put a wheel on the South Stream gas pipeline project.

The company's CEO Gerhard Roiss was quoted by Austrian daily Kurier as comparing a ban on the construction of South Stream to "shooting oneself".

He dismissed any likelihood that sanctions could have an impact on the project.

Roiss also made clear that Russian gas supplies were reaching Austria unhindered "despite the civil war in Ukraine".

OMV's chief executive also downplayed fears that the gas pipeline, which is to reach Austria after via Bulgaria, Serbia and Hungary, could fail to start gas deliveries due to Brussels's refusal to give it the green light.

He reminded that an "offshoot" of Nord Stream (supplying Germany with Russian gas), called Opal, had become operational, despite the fact that no agreement was reached between Berlin and the EU Commission on that matter.

Copyright, Novinite, 2014.