Hydro signs pipeline deal with Gazprom subsidiary

07-09-2006

Hydro penned a gas deal yesterday with Gazprom Marketing and Trading (GMT), the UK-based subsidiary of the Russian energy giant Gazprom.

Hydro said it would supply 500 million cubic metres of gas to GMT.

Jorgen Rostrup, the company's senior vice president, said: "We have been a stable supplier of gas to Great Britain for a considerable time, and we will increase our gas volumes entering the British market in the years to come."

The gas deal will last one year from October 1st, 2006.

Gas will be transported through the southern section of gas pipeline Langeled, due to start transporting Norwegian gas between Sleipner and Easington in the UK in October.

The northern part of Langeled, due to be completed in October next year, will stretch from Sleipner to Nyhamna, where it will be sent from the Ormen Lange field to the UK market.

Commenting on the expected increase in transportation, Mr Rostrup said: "Since 2001 Hydro has doubled its gas production from approximately five to ten billion cubic metres.

"Production from our fields will continue to increase, and we expect to reach over 16 billion cubic metres in 2010, when the production from Ormen Lange reaches its plateau production."


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