Verbund and OMV resolve their gas contract dispute

Verbund and OMV resolve their gas contract dispute

The Austrian energy operator Verbund has today announced that their dispute with EconGas, a subsidiary of the integrated oil and gas company OMV, over a gas supply contract has been settled. The contract refers to gas supplied by EconGas to a plant in Mellach, Austria. An expert report prepared by Frontier (Europe) was submitted to the antitrust court dealing with the dispute.

As a result of the dispute resolution, Verbund has raised its pre-tax earnings outlook for the second half of 2016 from the previous forecast of €840m to an estimated €960m.

Frontier was Verbund’s economic advisor in this dispute.

Frontier (Europe) regularly advises in high profile arbitration, litigation, investor dispute and private competition law enforcement cases.

For more information, please contact please contact Miriam Rau at [email protected], or call +49 221 337 131 00.