Statoil and Wintershall have entered into a 10-year sales
agreement for the delivery of 45 billion cubic meters (Bcm) of
gas to Germany and other Northwest European markets.
"This strategic agreement demonstrates the continued
competitiveness of Norwegian natural gas in the German energy
mix," said Statoil's President, Helge Lund. "Natural
gas abundance and established infrastructure provide
long-term security of supply, and, as the
least CO2-intensive fossil fuel, [gas] can
contribute to further reduction of German CO2
emissions. We see this agreement as a confirmation of how
gas will be in shaping the long-term German energy
"The agreement with Statoil, a long-term and reliable energy
partner with Germany for decades, is a significant milestone
for Wintershall, said Wintershall CEO Rainer Seele. "For
us, this 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."
Germany consumes about 80 Bcm/yr of natural
gas and is the second-largest gas market in Europe. Up to 5
Bcm/yr is a substantial volume, representing more than 6% of
total German gas consumption. The volume corresponds to the
annual gas usage of more than 2 million German homes.
According to the companies, the gas is priced at competitive
terms related to German and Northwest European hubs. The gas
will be delivered through existing pipeline infrastructure from
the Norwegian Continental Shelf, with the bulk of the
deliveries going to Germany.