Answers to your questions.
OMV GAS has the answers to your energy questions.
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Austria is right at the heart of the European natural gas market. For example, it is home to the Baumgarten hub, the point of intersection of some major natural gas pipelines. Natural gas flows through Austria from extraction sites located far away in Russia, via the Ukraine to supply Trieste, southern Italy, and Africa in the south, or Germany, Hungary, Slovenia, and Croatia. The natural gas sector has a long history in Austria, which became the first western European country to enter into supply agreements with Russia back in 1968. Austria is also leading the way for liberalization in Europe, having implemented all of the directives for fully opening up the market.
OMV GAS endeavors to continue the long-term work, i.e. pooling resources and utilizing synergies, to put itself in a strong position within the demanding national and international distributor and business client markets. The long-term vision of OMV GAS is to position itself as a successful natural gas trading company within central and eastern Europe.
We pride ourselves on our dedication to high quality and high performance, and these two factors are how we measure our success as an organization. Providing flexible customized solutions for distributors and business clients is where we really excel. We define the quality standards on the market, forcing our competitors' hands. Our expertise and the success experienced internationally by our owners give us an unmistakable competitive edge. Delivering outstanding service, guaranteeing supply and ensuring customer focus are all high on our list of priorities. We strive to exceed our customers' expectations.
With our head office in Vienna and a further site in Linz, OMV GAS has been a strong, reliable partner for customers in Austria ever since it was first established. The company also has subsidiaries in Germany, Croatia, and Hungary.
The expansion of natural gas trading represents an important strategic area of growth for OMV GAS. For us, trading at European gas hubs opens up ways to overcome target market entry barriers. The further expansion of trading operations is very important for OMV GAS. OMV GAS is actively involved in six energy and natural gas exchanges, and 14 natural gas hubs.
This role, set down in Austrian market regulations and the Austrian Natural Gas Act (Gaswirtschaftsgesetz, GWG), is taken on operationally by the OMV GAS Gas Logistics team. The Gas Logistics experts forecast demand for every hour of the following day, and update these estimates on an hourly basis according to current consumption and weather data. On this basis, natural gas purchases are nominated at defined transfer points and/or the difference between import, production and the forecast demand is offset by stored nominations. OMV GAS is dedicated to providing accurate forecasts for its customers, both within Austria and further afield. A complex IT system is in place to ensure that these tasks can be performed reliably around the clock.