OMV AG is an integrated oil and gas company based in Austria. Founded in 1956, OMV has grown to become one of the largest energy companies in Europe, with operations in over 30 countries worldwide. The company is primarily engaged in the exploration, production, refining, and marketing of oil and gas products.

OMV's operations are divided into three business segments: Upstream, Downstream, and Marketing & Trading. The Upstream segment is responsible for exploring and producing oil and gas, while the Downstream segment is responsible for refining and processing crude oil into various products such as gasoline, diesel, and jet fuel. The Marketing & Trading segment is responsible for marketing and selling OMV's products to customers around the world.

OMV's commitment to decarbonisation is reflected in its corporate energy strategy, which aims to reduce the company's carbon footprint and increase its use of renewable energy sources. The company has set ambitious targets to reduce its greenhouse gas emissions by 30% by 2025 and to achieve net-zero emissions by 2050.

To achieve these goals, OMV is investing in renewable energy projects such as wind and solar power, as well as exploring new technologies such as carbon capture and storage. The company is also exploring new business models such as corporate power purchase agreements (PPAs) to help drive the transition to renewable energy.

Corporate PPAs are long-term contracts between energy buyers and renewable energy generators. These agreements allow companies like OMV to purchase renewable energy directly from the source, providing a stable and predictable source of clean energy. By entering into these agreements, OMV is helping to drive the growth of renewable energy and reduce its carbon footprint.

OMV has already signed several corporate PPAs, including a 17-year agreement with the BayWa r.e. renewable energy company for the purchase of wind power from two wind farms in Austria. The company has also signed a 10-year agreement with the Norwegian energy company Statkraft for the purchase of renewable energy from a wind farm in Sweden.

In addition to its renewable energy investments, OMV is also exploring new technologies to reduce its carbon footprint. The company is investing in carbon capture and storage (CCS) technology, which involves capturing carbon dioxide emissions from industrial processes and storing them underground.

OMV is currently involved in several CCS projects, including the Northern Lights project in Norway, which aims to create a CCS value chain for Europe. The company is also exploring the potential for CCS in its own operations, with plans to capture and store up to 1.5 million tonnes of CO2 per year from its refinery in Schwechat, Austria.

OMV's commitment to decarbonisation is not only driven by environmental concerns but also by the changing energy landscape and the need to remain competitive in a rapidly evolving market. The company recognizes that the transition to renewable energy is inevitable and is taking proactive steps to position itself as a leader in this area.

In conclusion, OMV AG is a major player in the integrated oil and gas sector, with operations in over 30 countries worldwide. The company is committed to decarbonisation and is investing in renewable energy projects, exploring new technologies such as carbon capture and storage, and entering into corporate PPAs to drive the growth of renewable energy. OMV's commitment to decarbonisation is not only driven by environmental concerns but also by the need to remain competitive in a rapidly evolving market. As such, OMV is positioning itself as a leader in the transition to renewable energy and is well-positioned to thrive in the years ahead.