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
important natural gas will be in shaping the long-term German
"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.