Austria’s oil and gas company OMV has decided to invest 1.75 billion euros in gas production in Siberia this year, the company’s CEO Rainer Seele said at a panel discussion held at the Russian embassy in Berlin.

“We, OMV, have decided to invest 1.75 billion euros in Russia this year in order to engage in gas production in Siberia,” he said.

Seele stressed that next year the company will invest billions in the development of one more gas field. “Austria has been importing gas from Russia for 50 years, and there is no reason to question the safety of supplies from Russia,” he said.

Seele also said that OMV is interested in additional purchases of gas from Russian gas giant Gazprom this summer.

“We are interested in attracting additional volumes of gas from Gazprom in summer months, because we need bigger volumes of gas due to the cold winter,” he said. He did not specify volumes the Austrian company intends to buy from Gazprom.

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