Equinor’s CEO Anders Opedal says the agreements are in response to Europe’s need for long-term, reliable supply of energy and a push towards decarbonization at scale. (Source: Shutterstock)
Equinor and German midstream company SEFE (Securing Energy for Europe) entered into long-term gas sales agreements, according to a Dec. 19 press release.
Under the agreements, Equinor will supply SEFE with 111 terrawatt hours (TWh) of natural gas per year from Jan. 1, 2024 until 2034, plus an option to extend another five years at terms reflecting market prices, the release stated.
The gas will be delivered to the Trading Hub Europe in Germany, the Title Transfer Facility in the Netherlands and at the National Balancing Point in the U.K.
According to the release, the companies also signed a letter of intent for the purpose of SEFE becoming a long-term off-taker of low carbon hydrogen supplies from Equinor starting 2029 continuing to 2060.
Equinor’s CEO Anders Opedal says the agreements are in response to Europe’s need for a long-term, reliable supply of energy and a push towards decarbonization at scale.
“Equinor and Germany have enjoyed a strong energy partnership ever since the start of Norwegian gas exports in 1977,” Opedal said. “The total volumes we have agreed make this one of the largest agreements we have made as a company, and the supplies will contribute to energy security for Germany and Europe.”
Recommended Reading
Methanex to Buy OCI Global’s Methanol Business in $2.05B Deal
2024-09-10 - The agreement includes OCI Global’s stake in two methanol production facilities in Beaumont, Texas.
Diamondback Closes $26B Endeavor Deal, Forming Last Permian ‘Sandbox’
2024-09-10 - Diamondback Energy’s merger with Endeavor Energy Resources forms a company with pro forma production of 468,000 bbl/d (816,000 boe/d) on total Permian acreage of about 838,000 net acres.
Tellurian’s Dismissed Founder Souki Builds Woodside Stake After Deal
2024-09-10 - U.S. LNG export developer Charif Souki spoke to Hart Energy post-ousting from his second LNG company, Tellurian Inc. He’s buying shares in Tellurian’s buyer, Woodside Energy.
Service Companies Innovex, Dril-Quip Complete Merger
2024-09-06 - The combined onshore and offshore services companies Dril-Quip Inc. and Innovex Downhole Solutions, are expected to generate more than $1 billion in annual revenue.
H&P’s $2B KCA Deutag Deal Positions Driller as Global Powerhouse
2024-07-25 - Helmerich & Payne’s acquisition of U.K. service company KCA Deutag will expand its international reach, particularly in the Middle East, as well as its onshore presence in the U.S.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.