Equinor and OMV agree new long term gas sales agreement

September 28, 2023

The Europipe II pipeline at Kårstø (Photo: Ole Jørgen Bratland / Equinor)

Equinor has signed a new long-term gas sales agreement with Austria’s major energy company OMV.

The agreement is for 5 years starting 1 October this year and with an annual volume of 12 TWh. The gas will be delivered at Germany’s virtual trading hub THE for the OMV European portfolio.

Helge Haugane - portrait — Helge Haugane, Equinor’s senior vice president of Gas & Power.

(Photo: Arne Reidar Mortensen / Equinor)

The new bilateral agreement builds upon the long-standing relationship between the two companies and adds to the volumes under already existing contracts. The contract is priced at market terms.

“Equinor prides itself on being a long-term, reliable supplier of natural gas to Europe. I am very happy that we today, can announce another bilateral agreement between our two companies,” says Helge Haugane, Equinor’s senior vice president of Gas & Power .

“We have been observing an increasing demand for bilateral contracts from customers who see Norwegian gas as an enabler of energy security as well as of the energy transition,” Haugane adds.