Gazprom’s former German subsidiary SEFE (formerly Gazprom Germania) has signed contracts with Norway’s Equinor to purchase 10 billion cubic meters of gas per year for the period from 2024 to 2034. He reported it himself Ekinor.
The agreement provides for the possibility of extension for 5 years. Thus, the additional option volume will be approximately 29 billion cubic meters in the determined period.
Annual deliveries under the contract are capable of meeting one-third of the industrial gas demand in Germany. Gas will be supplied at market prices to the country’s main gas hubs, Trading Hub Europe (THE), as well as the Title Transfer Facility (TTF) in the Netherlands and the National Balancing Point (NBP) in Britain.
Additionally, the companies signed a non-binding agreement for SEFE to purchase low-carbon hydrogen from Equinor between 2029 and 2060.
An analyst at the beginning of October appreciated Russia’s role in the European gas market.
Previously Financier guess Oil prices until the end of the year.