Uniper, ConocoPhillips agree to 10-yr natural gas supply deal
German energy company Uniper and U.S. oil and gas producer ConocoPhillips have agreed on a supply deal for up to 10 Bm3 of natural gas over the next 10 yr.
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 said, 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.
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