Equinor reports North Sea gas discovery, gas supply deal with Germany's Uniper

Equinor and Uniper have entered into a 15-year gas sales agreement for supplies to Germany. The deal involves the delivery of more than 30 TWh of natural gas per year, from January 1, 2027, to December 31, 2041. The gas will be delivered at Trading Hub Europe, in Germany's gas market area. Pricing will follow market terms, with other commercial details kept confidential.

Equinor's CEO, Anders Opedal, expressed satisfaction with extending the long-standing partnership with Uniper. He highlighted the growing demand for reliable, long-term gas supplies from the Norwegian continental shelf, which have a lower carbon footprint compared to alternative gas supplies. Opedal further emphasized Equinor's role as a trusted long-term energy partner to Europe.

Uniper's CEO, Michael Lewis, stated that the agreement is a strong signal for the future of Europe's energy system. He emphasized the importance of reliable long-term partnerships for secure and competitive energy markets. Lewis also expressed interest in working with Equinor on advancing lower-emissions gas solutions for customers in Germany.

The agreement builds on a history that dates back 50 years, as Norway and Equinor mark their 50th year of gas exports to Germany. Deliveries under the new deal will begin on January 1, 2027, coinciding with this milestone.

Equinor and Uniper have also signed a non-binding letter of intent to explore potential sales of sustainability-related attributes linked to the gas supplies. These attributes pertain to verified data on the origin of the gas and its greenhouse gas intensity, among other sustainability characteristics. The Attributes digital platform will make this data available through third-party verification.