Statoil extends gas supply agreement with SSE

Statoil has agreed to an expansion of its long-term gas supply agreement with the UK’s SSE, the second largest supplier of gas and electricity in the UK.

Starting Oct. 1, the gas supplied from the six year deal, originally announced in October 2014, will increase from 0.5 billion standard cubic meters per year (bcm/y) to 2.5 bcm/y.

In addition, Statoil has a contract with SSE signed in October 2011 for the supply of 0.5 bcm/y to the St. Fergus terminal for the period October 2012 to October 2022.

On May 13, Statoil and Centrica announced a gas supply agreement that takes Statoil’s total supply to Centrica for the 10-year period of 2015–2025 up to 7.3 bcm/y.

Statoil’s long-term supply agreements with SSE and Centrica represent almost 15% of UK gas demand and will deliver sufficient gas to meet the needs of nearly 8.5 million British homes every year.

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