Vår Energi secures extended natural gas supply agreement with VNG Handel & Vertrieb

Vår Energi ASA has announced the extension of its long-term agreement to supply up to five billion cubic meters of natural gas to VNG Handel & Vertrieb GmbH from 2024 to 2036. This marks a significant continuation of the partnership between the two entities, which dates back to the early 1990s.

Under the renewed terms, Vår Energi will deliver natural gas to the Emden and Dornum terminals in Germany, with pricing set at market terms. This agreement is pivotal as it underlines Norway‘s role as a stable and secure supplier of natural gas to Europe, particularly in times of growing energy demand and market volatility.

Nick Walker, CEO of Vår Energi, emphasized the strategic importance of the agreement: “This partnership is a testament to our commitment to providing a reliable energy supply to our European customers. As Norway’s second-largest exporter of natural gas, we are dedicated to supporting energy needs across the continent while continuing to seek new exploration opportunities on the Norwegian Continental Shelf.”

Vår Energi extends its natural gas supply deal with VNG, reinforcing Norway’s role as a key energy supplier in Europe.

The extension also underscores the mutual confidence between Vår Energi and VNG, with a focus on maintaining a low carbon footprint and nearly zero methane emissions in their operations. Ulf Heitmüller, CEO of VNG AG, expressed satisfaction with the deal: “The renewal of our agreement not only reaffirms our trustful relationship but also our joint commitment to a sustainable energy future in Europe. We are grateful for the continuous support and look forward to further collaboration.”

The extended agreement between Vår Energi and VNG signifies a robust commitment to energy security and sustainability in Europe. As geopolitical and environmental factors continue to influence global energy markets, Norway’s role as a reliable supplier with a commitment to low-emission natural gas is more crucial than ever. This deal not only ensures long-term energy supply but also highlights the importance of strategic partnerships in the energy sector.