Statoil, Wintershall Sign Strategic Gas Supply Agreement

January 2013, Vol. 240 No. 1

Statoil and Wintershall have a 10-year gas sales agreement for the delivery of 45 Bcm to the German and other Northwest European markets.

“This strategic agreement demonstrates the continued competitiveness of Norwegian natural gas in the German energy mix. Natural gas abundance and established infrastructure provides long-term security of supply, and can contribute to further reduction of German CO-2 emissions,” said Statoil’s president and CEO, Helge Lund.

“For us, this agreement means that we can also use the volumes we produce from the North Sea in Europe in the future without having to expand our own infrastructure,” said Wintershall CEO Rainer Seele. The gas will be delivered through existing pipeline infrastructure from the Norwegian continental shelf with the bulk going to Germany.