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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.”
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