Deal covers 10 bcm of gas supply in 20242034 period
Includes option for another 5 years covering 29 bcm
Norway accounts for around 4050 of German gas imports
Deal also envisages hydrogen deliveries from 2029

BERLINFRANKFURT, Dec 19 Reuters German stateowned energy firm Sefe secured a 50 billion euro 55 billion gas deal with Norway39;s Equinor that will cover onethird of the industrial gas needs of Europe39;s largest economy, the companies said on Tuesday.

The deal marks a milestone in Berlin39;s efforts to replace former longterm supplier Russia, which first cut and later suspended deliveries in 2022, stoking fears of cold German homes during the last winter season.

It also strengthens Norway39;s position as Germany39;s top supplier of natural gas, a position it has held since Gazprom suspended direct deliveries via the Nord Stream pipeline. Currently, Norway already accounts for roughly 4050 of Germany39;s gas imports.

The supply agreement follows a broader agreement between Norway and Germany at the start of the year where both countries pledged to cooperate more closely in the field of renewables, hydrogen, battery technology and offshore wind.

This is a response to Europe39;s need for longterm, reliable supply of energy and a viable route to decarbonisation at scale, Equinor Chief Executive Anders Opedal said.

The supply deal covers around 10 billion cubic metres bcm of natural gas per year from Jan. 1 2024 until 2034 and carries an option for another five…