Norway Challenges Gazprom 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.