Norse snags new US natural gas pipeline agreement

Source: Norse Energy

Norse Energy Corp. signed a one-year agreement to gather a minimum incremental daily quantity of 1,000 mcf/d on Norse Pipeline, LLC. 

This contract represents about a 7% increase in the company’s pipeline divisions throughput. During the first half of 2010 the pipeline division generated an EBITDA of about USD 1 million. 

“We are very pleased that one of our long term customers continues to commit to move their natural gas on our Norse Energy’s pipeline systems," stated Øivind Risberg, Chief Executive Officer of Norse. 

Norse owns and operates a regional pipeline network that gathers natural gas production in the states of New York and Pennsylvania, and delivers that production to interstate pipelines, local utility companies and some industrial and commercial end-users. The Norse pipeline network is able to connect more than 6,500 gas wells and measures about 550 kilometers.

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