Austrian energy company OMV confirmed Tuesday there was an explosion on the grounds of a gas storage facility in Austria that left one person dead.

The company said there was an explosion at 9:00 a.m. local time at the Baumgarten gas facility.

"The explosion caused a serious fire that has been contained to several small fires," the company said in a statement. "It is with great sadness that we have to announce that one person lost their life in this accident."

Eighteen others were injured in the accident. The company said the exact cause of the incident is unclear and police are on scene investigating. At this time, OMV's subsidiary, Gas Connect Austria, said the explosion appears to be the result of a technical fault.

OMV reported an operating net profit in the third quarter of $933 million, up 52 percent from the same period last year

For production, costs for OMV declined by 13 percent during the quarter to $8.80 per barrel of oil equivalent, while output increased 13 percent to 341,000 barrels of oil equivalent per day.

For natural gas, the company said its primary market in Europe was still oversupplied, though gas prices were following crude oil prices higher for the year. Its subsidiary said the supply of natural gas in Austria was secured.

"The country's natural gas supply can be covered for the foreseeable future," its statement read.

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