In Vladivostock, a working meeting has been held between the Chairman of the Gazprom Management Committee, Alexey Miller, and OMV CEO Rainer Seele.

During the meeting, a Term Sheet was signed regarding long-term business projects between Gazprom and OMV. The parties agreed to a timetable and principles for exclusive negotiations regarding OMV’s participation in the development of Areas IV and V of the Achimov formation of the Urengoy oil, gas and condensate field in Russia based on an exchange of assets. If the deal is concluded, OMV will acquire a 24.98 per cent stake in the project in exchange for a participation in assets of OMV.

The Term Sheet was signed at the same occasion as the multi-party Shareholder Agreement for Nord Stream 2. These agreements mark a significant step forward in realization of the long term business projects envisaged in the Memorandum of Understanding signed between the two companies on June 18, 2015.

OMV CEO, Rainer Seele: "This agreement is another step towards cooperation along the entire value chain with Gazprom. We are importing gas from Russia for our European customers. We are investing together into the security of supply realizing the Nord Stream 2 project and we are now extending our trustful partnership towards the production of natural gas in Siberia."

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.

About OMV Aktiengesellschaft

With Group sales of EUR 36 bn and a workforce of around 25,500 employees in 2014, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio. 2014 daily production stood at approximately 309,000 boe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and approximately 4,100 filling stations in 11 countries as of end of 2014. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2014, gas sales volumes amounted to 123 TWh.