Norwegian independent Vår Energi announced on Monday that it has extended a long-term agreement to deliver natural gas to Italy’s Eni by an additional 12 years.Under the terms of the agreement, Vår Energi will deliver up to 5 bcm (176.6 bcf) of natural gas to Eni until 2036. The volumes will be delivered at Emden and Dornum gas terminals in Germany and will be priced at market terms.
In June 2024, Vår Energi struck a similar supply deal with Germany’s VNG Handel & Vertrieb for the delivery of 5 bcm (176.6 bcf) of gas over 12 years.“This agreement with Eni is yet another strong testimony of Vår Energi’s commitment to being a stable and reliable energy supplier to key European markets.
As Norway’s second largest exporter of natural gas, Vår Energi will continue to explore further petroleum resources across the Norwegian Continental Shelf,” said Nick Walker, Vår Energi’s CEO.
Vår Energi is an independent upstream oil and gas company active on the Norwegian continental shelf with around 200 licences and equity stakes in 47 producing fields. In April 2024, the company announced an oil discovery in the Central North Sea’s Balder area.
Source:https://theenergyyear.com