Equinor and Germany’s state-owned energy company SEFE (Securing Energy for Europe) have signed the agreement. The agreement contains an option for extension for a further five years. The agreement means that Equinor supplies Germany with total deliveries corresponding to up to 1,420 TWh of natural gas until 2039. The energy corresponds to a gas volume of 129 bcm (billion cubic metres). For the next ten years, Equinor will supply SEFE with 110 TWh of energy via annual deliveries of 10 bcm, at European market prices. The annual volumes of gas deliveries to Germany must correspond to a third of German industry’s needs. Commentator Hilde Øvrebekk in Stavanger Aftenblad says this is a very important agreement for Equinor. And the timing is good. – This is a long-term agreement, which is important in the gas market because it provides predictability, she says to news. Hilde Øvrebekk is an oil commentator in Stavanger Aftenblad. Photo: Anders Haualand / news An option agreement has also been signed for a further five years, on 29 bcm. Germany (SEFE) and Equinor have also signed a non-binding letter of intent that Germany can become a major buyer of hydrogen in the years 2029 to 2060. CEO Anders Opedal in Equinor. Photo: Lise Marit Kalstad / news – The agreement is a response to Germany’s need for stable, long-term energy supply and a credible path to decarbonisation, says Equinor’s CEO Anders Opedal in a comment. The agreement between Equinor and SEFE will be signed on Tuesday 19 December.
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Equinor signs giant gas agreement with Germany – news Rogaland – Local news, TV and radio
