Austrian integrated oil and gas company OMV announced on Nov. 13 that it had secured an arbitral award from the International Chamber of Commerce exceeding $243 million. This ruling relates to irregularities in German gas supplies provided by Gazprom.

(Bloomberg) -- OMV AG warned Russian natural gas supplies may be disrupted as the company intends to stop paying for imports from Gazprom PJSC to recoup damages it won in arbitration. European futures surged to the highest in a year. OMV doesn’t expect G ...

Austrian energy player plans to enforce arbitration award from Russian company revenues for remaining exports to Europe

European gas prices are trading at their highest levels since November last year on concerns that some Russian pipeline flows could be disrupted soon

European gas futures jumped to their highest level in a year. This was due to fears that Gazprom may cut off supplies to Austria, Bloomberg reports. Futures on the TTF hub in the Netherlands rose by 3.