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The internal transfer price for natural gas is a volume weighted average price calculated at the end of every quarter.
For the NCS production, the internal transfer price paid from Marketing, Midstream and Processing (MMP) to Development & Production Norway (DPN) consists of the following price components: Volumes sold under regular sales contracts or in the spot market are priced using a basket of relevant price markers which is reflecting Equinor’s sales structure. This is based on quotations at Title Transfer Facility (TTF) and National Balancing Point (NBP). Certain long term contracts are priced towards DPN using actual contract price and certain LNG volumes are priced at Henry Hub (HH) quotations.
The internal transfer price is reported after deducting costs relating to bringing the gas from the processing plants to market and a marketing fee element.
1 mmbtu is equivalent to 26.38 Sm3
NOK conversion to USD based on average daily exchange rate for the quarter