Norway Challenges Gazprom European Gas Monopoly

- November 20th, 2012

Reuters reported that Norway’s Statoil signed a 10-year gas supply deal with Germany’s Wintershall, which could present a challenge to Gazprom’s attempt at a European gas monopoly.

Reuters reported that Norway’s Statoil signed a 10-year gas supply deal with Germany’s Wintershall, which could present a challenge to Gazprom’s attempt at a European gas monopoly.

As quoted in the market report:

Statoil agreed on Tuesday to supply Wintershall, the natural gas unit of chemicals firm BASF, with 45 billion cubic metres (bcm) of gas worth $17.4 billion at current prices, in a deal aimed at creating a flexible gas market in northwestern Europe.

To view the whole Reuters report, click here.

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