OMV to Go Ahead Alone with Austrian Hydrogen Project After Masdar Exit

Handelsblatt

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Masdar from Abu Dhabi is unexpectedly leaving OMV's hydrogen project near Vienna. The Austrian energy company is now planning to continue the 600 million euro plant alone.

Világgazdaság

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The Austrian oil giant was left in the lurch. The United Arab Emirates energy company backed out of OMV's planned investment on the Hungarian border without giving any reason.

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The Austrian energy group OMV announced Friday that it will go on alone with the project on the construction of a [...]

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The renewable company of the emirate Abu Dhabi, Masdar, will not join the hydrogen electrolysis plant of the sub-state OMV in Bruck an der Leitha (NÖ). However, nothing changes on the project itself, a spokesperson of the energy company confirmed on Friday of the APA a corresponding report of the "Salzburger Nachrichten". Originally it was agreed that Masdar will hold 49 percent of the joint venture, the OMV 51 percent.