Russian Gas Supply to Europe Faces Disruption Risk, OMV Warns

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 Gazprom to pay the €230 million ($242 million) award, which could prompt the Kremlin-controlled company to halt supplies and may boost reliance on costly liquefied natural gas.

Europe’s gas market has been particularly sensitive to disruptions since the 2022 energy crisis, with supply outages liable to jolt prices. Futures have climbed in recent months on gathering risks to flows, ...