Equinor Signs Natural Gas Supply Agreement With Germany's RWE
October 30 2023 - 6:09AM
Dow Jones News
By Dominic Chopping
Equinor said Monday that it has signed a new five-year agreement
to supply natural gas to Germany's RWE.
The Norwegian energy major said the deal will see it supply
volumes of between 10 terawatt hours and 15 terawatt hours of
natural gas, equivalent to between 1 billion cubic meters and 1.5
billion cubic meters a year from now until 2028.
The contract is priced at market terms and the gas will be
delivered at Germany's Trading Hub Europe, it added.
Earlier this year RWE and Equinor announced plans to develop
large-scale value chains to ensure security of supply and reduce
emissions. The first step is to invest in and develop gas-fired
power plants in Germany that are ready to use hydrogen as feedstock
as soon as it becomes available on an industrial scale in the
country.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 30, 2023 05:54 ET (09:54 GMT)
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