RPT-ANALYSIS-OMV-Gazprom deal revives fear of Russia

(Repeats to fix typo in first para)

By Karin Strohecker

VIENNA, May 25 (Reuters) - A deal signed this week between Russia gas monopoly Gazprom and Austria's OMV revived fears Moscow is tightening its stranglehold over its European customers.

For some, however, the leading gas exporter poses no threat and this accord with a transit country strategically located between eastern and western Europe could improve security of supply.

On Wednesday, Gazprom (GAZP.MM) signed a memorandum of understanding with oil and gas group OMV (OMVV.VI) about taking a stake in its gas hub and joint storage projects.

Some analysts interpreted the agreement as the latest step in Russia's efforts to divide and rule its European customers. "It's part and parcel of a very clear strategy that Gazprom is pursuing, which is to strike bilateral deals with individual member countries and to avoid having to discuss, negotiate gas contracts and gas security with the European Union Commission as a whole," said Dieter Helm of Oxford University.

"Gazprom has been remarkably successful in each and every component of the strategy it has been pursuing," he said.

Wednesday's memorandum of understanding coincided with a visit to Austria by Russian President Vladimir Putin, who praised it as a model partner for energy exports.

"Austria is the biggest and, I stress this, the most reliable transit agent for Russian gas," Putin said.