STAVANGER, NORWAY--(Marketwire - Nov 20, 2012) - Statoil ASA (OSE: STL, NYSE: STO):
Statoil and Wintershall have entered into a
10-year gas sales agreement for the delivery of a total of 45 billion cubic
meters (bcm) to the German and other North-West European markets.
"This strategic agreement demonstrates the continued competitiveness of
Norwegian natural gas in the German energy mix. Natural gas abundance and
established infrastructure provides long term security of supply, and as
least CO2 intensive fossil fuel it can contribute to further reduction of
CO2 emissions," says Statoil's President and CEO Helge Lund, adding that:
see this agreement as a confirmation of how important natural gas will be
shaping the long term German energy system."
"The agreement with Statoil, a long-term and reliable energy partner with
Germany for decades, is a significant milestone for Wintershall. For us
means that we can also use the volumes we produce from the North Sea in
in the future without having to expand our own infrastructure," says
Wintershall's CEO Rainer Seele.
Germany consumes about 80 bcm natural gas per year and is the second
market in Europe. Up to 5 bcm per year is a substantial volume,
more than 6 per cent of the total German gas consumption. The volume
to the annual gas usage of more than 2 million German homes, or the gas
to fuel eight to nine 400 MW gas power plants.
The gas is priced at competitive terms related to German and NW European
The gas will be delivered through existing pipeline infrastructure from the
Norwegian Continental Shelf, with the bulk of the deliveries going to
About Statoil's gas position in Germany
Statoil is the second largest supplier of gas to Europe and has long
ties towards the Germany gas market. Statoil's gas reaches the German
through the Europipe I and II and Norpipe pipelines that landfall at Dornum
Emden in Northern Germany. The company's German gas portfolio comprises
term gas sales contracts with major energy utilities and direct sales to
industrial users. Further, Statoil is trading at the Gaspool and NCG gas
owner/operator of the Etzel gas storage and part owner in the NETRA
Based in Kassel, Germany, Wintershall Holding GmbH is a wholly owned
of BASF and has been active in the exploration and production of crude oil
natural gas for over 80 years. Wintershall focuses on selected core
where the company has built up a high level of regional and technological
expertise. These are Europe, North Africa, South America, as well as Russia
the Caspian Sea region. In addition, these operations are complemented by
company's growing exploration activities in the Middle East. Today, the
employs more than 2,000 staff worldwide from 40 nations and is Germany's
internationally active crude oil and natural gas producer.
This information is subject of the disclosure requirements pursuant to
5-12 of the Norwegian Securities Trading Act.
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Source: Statoil via Thomson Reuters ONE