Statoil signs gas supply agreement

Agreement: Staoil has signed a gas supply agreement with Germany's Wintershall

Josh Lewis

 20 November 2012 06:54 GMT

Norwegian company Statoil has signed a gas supply agreement with Germany’s Wintershall which will see it deliver more gas to the German and other north-west European markets.

Under the agreement Statoil, which claims to be the second largest supplier of gas to Europe, will deliver a total of 45 billion cubic metres of gas to Wintershall over a 10-year period.

Statoil did not provide the financial details of the deal but said the gas was priced “at competitive terms” related to the German and NW European hubs.

The gas will be delivered through existing pipeline infrastructure from the Norwegian Continental Shelf, with the majority of the gas being sent to Germany.

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