Austria's OMV says reduction in Russian gas deliveries has eased to 40%

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The logo of Austrian oil and gas group OMV is seen at a gas station in Vienna, Austria, October 30, 2018. Picture taken October 30, 2018. REUTERS/Heinz-Peter Bader

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VIENNA, July 5 (Reuters) - Austria's gas supply situation has improved, with deliveries from Russia at about 60% of agreed volumes, oil and gas group OMV (OMVV.VI) said on Tuesday as the head of the country's regulator said he saw no need to declare an alert level.

OMV (OMVV.VI) said the reduction in deliveries was at around 40% compared with around 50% previously.

The energy market has become part of an economic war between Moscow and the West since Russia's invasion of Ukraine on Feb. 24.

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OMV said in June that Russia's Gazprom (GAZP.MM) had informed it of a reduction in gas deliveries, but that at the time supply for customers was secure and it would replace the amount, if necessary, from storage and the spot market.

The Austrian government will be advised on the gas situation on Tuesday amid concerns that the country's goal of filling gas storage facilities to 80% by the autumn could be in jeopardy.

Regulator E-Control Chief Executive Wolfgang Urbantschitsch told ORF radio said there was no immediate cause for alarm.

"I think at the moment, on the basis of the available information ... namely, that more than 300 gigawatt hours a day are coming into storage facilities, there is, in my view, no reason today to declare such an alert level," he said.

Austria's storage facilities are currently about 46% full while OMV's storage facilities are around 72% filled.

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Reporting by Alexandra Schwarz-Goerlich; Writing by Miranda Murray and Madeline Chambers; Editing by Christopher Cushing, Maria Sheahan and David Evans

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