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Record gas sales

May 7, 2002, 11:00 CEST

Equity gas sales by Statoil averaged 52.4 million cubic metres per day during the first quarter of 2002, up by almost 30 per cent from the same period last year.

An average of 40.9 million cubic metres of equity gas was sold by the group during January-March 2001.

One important reason for the increase is that sales contracts with BP and ENI (Snam) came into effect with the start of the new gas year on 1 October.

The BP agreement commits Statoil to supplying gas to the UK until 2015, while the ENI deal covers deliveries to Italy until 2025.

In addition come rising delivery commitments under the group’s other long-term contracts after 1 October, reports Reidar Gudmestad, head of Statoil’s gas sales centre.

The weather is a third factor responsible for boosting sales.

“Last year’s winter was unusually mild in continental Europe, and our customers used their contractual flexibility to take lower volumes in January-March 2001,” says Mr Gudmestad.

Norwegian gas sales are expected to total some 55 billion cubic metres in 2002, or about 150 million cubic metres per day.

In addition to its equity supplies, Statoil sells gas owned directly by the state and managed by Petoro.