ConocoPhillips, Uniper Ink 10-Year Natural Gas Supply Deal
(Reuters) — German energy company Uniper and U.S. oil and gas producer ConocoPhillips said they have agreed on a supply deal for up to 10 billion cubic meters (bcm) of natural gas over the next 10 years.
Under the agreement, ConocoPhillips will supply natural gas to Uniper in north-west Europe. Financial details were not disclosed.
The agreement is for natural gas pipeline supply, not liquefied natural gas (LNG), a ConocoPhillips spokesperson told Reuters, which is gas cooled and turned into liquid for transportation in tankers.
ConocoPhillips has stakes in Norwegian gas fields from where gas is piped to continental Europe and Britain. A Uniper spokesperson said that a partnership between the two companies has existed for more than four decades.
"The agreement also supports ConocoPhillips' increasing gas flows into Europe, where significant long-term regasification capacity commitments have been made including the German LNG, Gate and Zeebrugge terminals," the ConocoPhillips spokesperson added.
Related News
Related News
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- ONEOK, MPLX to Build $1.4 Billion LPG Export Terminal, Pipeline in Texas
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- TC Energy Beats Q4 Profit Estimates, Driven by Mexico Pipelines' Success
- Michigan Court Backs Permits for Enbridge’s Line 5 Pipeline Tunnel Project
Comments