OMV to secure long-term financing for 30 pct of its Nordstream 2 share

VIENNA, April 24 (Reuters) - Austrian oil and gas group OMV (EUREX: 430021.EX - news) said on Monday it would provide long-term financing to secure 30 percent of its share of project costs of the Nord Stream 2 pipeline from Russia.

Under the agreement between the western partners of Russian gas giant Gazprom OMV is obliged to fund 10 percent of the 9.5-billion euro pipeline.

"OMV (IOB: 0MKH.IL - news) will directly secure 30 percent of the pro-rata project costs through long-term financing," the group said in a statement.

"Should it not be possible to secure project financing for the remaining 70 percent of the pro-rata project costs, OMV is planning to make medium-term financing available." (Reporting by Kirsti Knolle; Editing by Shadia Nasralla)