(Reuters) - Austrian oil and gas group OMV said on Tuesday it expects a positive impact of around 210 million euros ($215.4 million) on its fourth-quarter earnings from an arbitral award linked to its
OMV Anticipates $215 Million Boost in Q4 Earnings from Gazprom Arbitration
(Reuters) - Austrian oil and gas group OMV said on Tuesday it expects a positive impact of around 210 million euros ($215.4 million) on its fourth-quarter earnings from an arbitral award linked to its German gas supply contract with Gazprom.
The Vienna-based firm added the positive net impact would be recorded in the clean operating result of its Gas Marketing & Power business unit.
OMV said in November it had received an award of more than 230 million euros from the International Chamber of Commerce in connection with irregular German gas supplies from Gazprom Export.
The group recorded mixed average energy prices in the fourth quarter, hindered by a 7.4% fall in average realized crude oil price, it said in a trading update on Tuesday.
Average realized price for natural gas meanwhile rose 22.9% to 30.6 euros per MWh.
OMV will publish its full fourth-quarter results on Feb. 4.
($1 = 0.9751 euros)
(Reporting by Tristan Veyet and Isabel Demetz in Gdansk, editing by Milla Nissi)
