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Statoil ASA Signs Strategic Gas Sales Agreement with Centrica PLC
Statoil ASA announced that it has entered into a strategic long term gas sales agreement with Centrica for the delivery of 5 billion cubic meters (bcm) per year from 2015 to 2025 to the UK market. This new long term gas sales agreement follows an existing agreement between Statoil and Centrica that expires in 2015. The 10 year, NBP-linked gas supply contract begins in 2015 and secures sufficient gas to meet around 5% of total UK annual demand, enough for 3.5 million homes. The volumes will be delivered through existing pipeline infrastructure from the Norwegian Continental Shelf.
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