Statoil and Wintershall sign agreement on the purchase of Norwegian gasThe BASF subsidiary Wintershall wants to make greater use of the natural gas that is increasingly produced in the North Sea for its own purposes.
Together with Norway’s Statoil ASA company, Wintershall has today (November 20, 2012) signed agreements that regulate not just Statoil’s purchase of the natural gas produced by Wintershall in Norway but also in return the natural gas supplied by Statoil to Wintershall. Statoil will make the North Sea gas available to Wintershall at trading points in Europe, mainly Germany. The agreement will last for ten years and begins on January 1, 2013. During the contractual period, Wintershall will receive a total of up to 45 billion cubic metres of natural gas from Statoil.
Wintershall itself currently produces around 1.3 billion cubic metres of gas per year in the North Sea; this volume is expected to increase considerably already next year. Background: As part of a recent asset swap with Statoil, Wintershall now has shares in additional deposits on the Norwegian continental shelf.
The agreement with Statoil will enable BASF/Wintershall to use the volumes produced in Norway for Europe without having to develop its own transport infrastructure. The North Sea gas will also help to balance the decrease in domestic production in continental Europe in the medium to long term. With the strategy of securing energy directly at the source, Wintershall is therefore making a considerable contribution to ensuring supply security.
Wintershall Holding GmbH, based in Kassel, Germany, is a wholly-owned subsidiary of BASF in Ludwigshafen. The company has been active in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions, 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 and the Caspian Sea region. In addition, these operations are complemented by the company’s growing exploration activities in the Arabian Gulf. Today, the company employs more than 2,000 staff worldwide from 35 nations and is now Germany’s largest crude oil and natural gas producer. With the natural gas trading and transport subsidiaries it operates together with Russia’s Gazprom, the BASF subsidiary is also an important gas supplier on the German and European market.
Wintershall. Shaping the Future.
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Equinor Energy AS is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Norway with approximately 21,000 employees worldwide, and are listed on the New York and Oslo stock exchanges.