Norwegian energy giant Equinor has signed a five-year natural gas supply agreement with Dutch energy company Eneco, further strengthening its position in the European gas market.
Under the agreement, Equinor will supply approximately 9 terawatt-hours (TWh) of natural gas annually, equivalent to around 0.9 billion cubic meters (bcm), from the Norwegian continental shelf to the Dutch gas grid. Deliveries began on October 1, 2026.
The companies did not disclose the financial terms of the agreement.
The contract marks the third long-term gas supply arrangement between Equinor and Eneco this year, highlighting growing commercial ties between the two energy companies.
In February, Equinor signed a five-year agreement to supply up to 0.5 bcm of natural gas annually to the Netherlands. A subsequent agreement in May covered approximately 2.2 TWh of annual gas deliveries to Eneco’s German subsidiary, LichtBlick.
The latest agreement also includes the transfer of verified environmental attributes through the digital platform operated by Attributes SA, allowing Eneco to track the origin and upstream greenhouse gas emissions associated with its contracted Norwegian gas.
According to Equinor, the natural gas covered by the latest agreement has a lifecycle greenhouse gas footprint 11.8% lower than the average gas supplied through the Dutch grid, based on 2025 emissions data.
The difference reflects lower emissions during extraction and transportation, rather than combustion, which produces the same emissions regardless of the gas’s origin.
Eneco said the agreement will allow it to source Norwegian gas for all its residential and small business customers in the Netherlands, supporting its efforts to maintain reliable energy supplies while reducing the emissions associated with gas procurement.
The deal underscores Norway’s continued importance to European energy security as utilities seek long-term supply arrangements that combine reliability with greater transparency over greenhouse gas emissions.
For Equinor, the agreement further expands its portfolio of long-term European gas sales contracts and reinforces the commercial importance of Norwegian pipeline gas as Europe balances energy security requirements with its decarbonization objectives.
By Charles Kennedy for Oilprice.com
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Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
