Equinor Signs 10-Year Gas Supply Deal

The Troll A platform in the North Sea (Credit: Jan Arne Wold/Elisabeth Sahl - Equinor)

Equinor and the Capital City of Prague’s gas and electricity company Pražská plynárenská have signed a long-term agreement for ten years of gas supplies into the Czech Republic.

Deliveries have started and will last until 2035, Equinor said.

Equinor’s supplies of pipeline gas to Europe are backed by the resources on the Norwegian continental shelf.

Pražská plynárenská will use the gas to supply households and businesses in Prague and other parts of the country with heat, electricity and natural gas.

While Equinor’s main gas markets have been in Northwest Europe and the UK, the company has during the last decade expanded its reach to include supplies to the Baltics and Poland and now sees a growing market potential among customers in Central and Southern Europe.

The agreement lasts until October 1, 2035 and Equinor will deliver the gas at the Czech hub.

“I am excited that we have made this agreement with Pražská plynárenská and that we now provide energy to homes and enterprises in the Czech Republic. This joins a string of long-term gas contracts we have signed across Europe in recent years, demonstrating the role gas plays for European energy security,” said Anders Opedal, CEO of Equinor.

“This step will significantly strengthen the stability and reliability of natural gas supplies for Pražská plynárenská’s customers, and its scope will cover, among other things, a significant part of the total consumption of households supplied with natural gas by our company,” added Ludvík Baleka, Chairman of the Board of Directors of Pražská plynárenská.