Amid the buzz of Russian President Vladimir Putin’s visit to the Austrian capital of Vienna, OMV and Russia’s Gazprom signed an agreement to extend Russian gas supplies to Austria until 2040.

OMV CEO Rainer Seele and Gazprom CEO Alexey Miller signed the document on June 5 with both Putin and Austrian Chancellor Sebastian Kurz in attendance.

“Russia’s plans to increase gas deliveries to European consumers, including the Nord Stream 2 project, other energy and infrastructure projects enjoy t...

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