Less oil, more chemicals: thanks to Borealis, OMV has a lot of innovation and new factories in Texas, Abu Dhabi and also in Schwechat. As far as the security of gas supply is concerned, good action was taken at an early stage.
At OMV, unlike Wien Energie, it is quiet. New Managing Director Alfred Stern has had the domestic energy giant’s new strategy approved since the end of 2021 and has so far endured turbulent times with his team with confidence. In the big “Krone” interview with the deputy, he reveals the cornerstones of the reshuffle to editor-in-chief Georg Wailand.
The future path of the traditional oil and gas business will lead towards an “innovative, sustainable growth company”. This means a huge change and also a challenge for the employees.
“We want OMV to still exist in 50 years”
Stern: “We are a proud company with a long history. We still have some catching up to do when it comes to the future of energy, but this is also a great opportunity. Such a transformation is never easy, but we are on the right track. It’s like running a marathon: you can’t give up right at the start and say: what, is that far? That would be the biggest mistake. No, we know where our goal is, and according to this vision, we are going there. We want OMV to still be around 50 years from now.”
The current turbulence is not without its problems. Stern: “Oil was below $25 in 2020, now we’re keeping it around $100. Those are huge swings.”
Unlike Wien Energie, no financial problems
But OMV stayed on track. It is active in the international markets, but – unlike Wien Energie – has no financial or liquidity problems: “We set up our own task force at an early stage that focuses on potential risks and security of supply. This team has done an excellent job track.”
With regard to security of supply, OMV made the right decision at an early stage: 25 percent of the storage capacity in Haidach was secured. Alfred Stern: “As a result, our gas storage tanks are already more than 90 percent full, our team has done a great job.”
Further pipeline capacities assured
To reduce the risk in the future, OMV has also secured further pipeline capacities: from Germany to Austria (for the OMV Norway gas) and from Italy to Austria.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
