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Gas marketing deal

August 17, 1998, 01:00 CEST

Chevron UK’s share of gas from the Britannia field on the British continental shelf is to be marketed by Statoil’s London-based Alliance Gas subsidiary."This deal represents an important breakthrough, and demonstrates the progress we’ve made over the past two years," reports Alliance president John King.

He adds that marketing of third-party gas will be an important element in the company’s future operations. "All the same, we’re focusing primarily on marketing Norwegian gas from 2001 or 2002." Alliance will market about 900 million cubic metres of gas annually over three years on Chevron’s behalf. Britannia is due on stream this month.

The Statoil subsidiary ranks today as the third largest gas marketing company in Britain, with annual sales of roughly 1.3 billion cubic metres. According to Mr King, the Chevron gas will help to strengthen Alliance’s position in the market.