Statoil signs giant gas deal with British Gas

Norway’s oil major Statoil clinched a giant gas export deal with British Gas Trading, paving the way for a new North Sea pipeline that could tighten its grip on a growing UK market. Statoil said it would supply British Gas with 5.0 billion cubic metres (bcm) of gas per year for 10 years from October 2005, worth up to 50 billion crowns ($6.35 billion). The deal could spur construction of a new NOC 5–6 billion pipeline between Norway and Britain. “Looking at sales and production in the UK market, we estimate that there will be a need for a new pipeline around 2006-2008,â€? a company official said, adding a final pipeline decision would be made in late 2002 or early 2003.
Statoil’s UK Managing Director Rune Bjornson told a news conference in London there were four alternatives to create a gas transport hub from Norway to the UK and continental Europe. He said Statoil’s preferred option was to link its Sleipner gas field to the UK Miller gas field which has a pipeline running to the St Fergus gas terminal in northern Scotland. Other alternatives were to link Sleipner with the Teesside terminal in NE England or with a Bacton terminal in SE England.

Previous articleStainless pressure gauges from Swagelok
Next articleNew couplings from Lovejoy
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.