WEBVTT

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Hi. My name is Franco Iglesias

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and I work as a Senior Portfolio Manager

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in the Gas Optimization department.

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We are responsible

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for the commercial optimization

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of our gas assets

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such as gas storage capacities,

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our equity supply volumes in Norway

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and Austria,

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contractual supply volumes

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from 3rd parties,

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and all our cross-border transport capacities.

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The current geopolitical situation exposed

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new challenges

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to ensure the security of gas supply.

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Our goal at OMV

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is to find alternative supply volumes

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and routes and set up a portfolio structure

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that guarantees the delivery of natural

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gas to Austria.

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We do not only need to consider

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long-term deals with new supply partners,

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but we also have to make use

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of our existing supply sources

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in Norway and Austria and combine them

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by acquiring the necessary transport capacities

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to cover Austria's gas demand.

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In the process of

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a gradual phase-out

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of oil and gas production,

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I strongly believe that natural gas

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will still play a significant role

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in our future energy mix

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as it will continue to act

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as a flex fuel for power plants

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to balance volatile fluctuations

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coming from renewables

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such as wind and solar.

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Finding the right pace

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and overcoming the economic

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and legal challenges

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in our global energy transition

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is essential in shaping our future

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and redesigning Europe's energy map.