Statoil signs gas supply agreement

by on November 20, 2012 6:54 am BST

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.