The Central and East European states must connect their natural gas transport systems, in order to be able to deal with situations like the one between Russia and Ukraine, said the OMV president, Wolfgang Ruttenstorfer, on Monday, during a conference in Vienna. According to Ruttenstorfer, Nabucco and South Stream may also represent solutions for Europe's energy independence.

"During the recent gas crisis, developed countries like the United Kingdom, France or Germany didn't have to suffer because of the ceasing of Russia gas deliveries, but all Central and East European states, except for Romania, were affected", said Ruttenstorfer.

The OMV official admitted that the group is affected by the falling oil price, a fact that will lead to profitability decrease. In the context of a more difficult access to financing, this will lead to a slow down of the group's development in the region.