Russian giant Gazprom and Austria’s energy company OMV have signed a memorandum of understanding on LNG cooperation.

OMV said that the two companies previously agreed that Gazprom would supply 1.2 billion cubic meters of LNG to OMV in 2020.

Based on that, both partners now agreed to continue the cooperation beyond the year 2020, including the sale and purchase of conventional and small-scale LNG cargo.

Also, both companies intend to explore options for the joint development of small-scale LNG infrastructure projects.

Seele stated, “We have been receiving reliable gas supplies from Russia for more than 50 years. Now we are extending our cooperation to LNG. This will contribute to the diversification of sources of supply and help us safeguard security of supply in Europe.“