Equinor Energy AS has agreed to a 5-year deal to supply Austria’s OMV with Norwegian natural gas. Beginning Oct. 1, a supply equivalent to 12 TWh/year will be delivered to Germany’s virtual trading hub THE for the OMV European portfolio.
Equinor Energy AS has agreed to a 5-year deal to supply Austria’s OMV with Norwegian natural gas. Beginning Oct. 1, a supply equivalent to 12 TWh/year will be delivered to Germany’s virtual trading hub THE (Trading Hub Europe) for the OMV European portfolio.
The bilateral agreement adds to volumes under already existing contracts between the companies, Equinor said in a release Sept. 27. The contract is priced at market terms.
OMV said the new volumes contribute to the company’s gas diversification strategy. OMV is purchasing natural gas from its own production sources in Norway and Austria. Furthermore, it has contracted long-term LNG regasification capacities at the GATE terminal in Rotterdam, the company said. It also participates as a potential buyer in the EU Joint Gas Purchasing Platform auctions and has access to all major Central and North-West European natural gas trading and capacity marketplaces.
