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FRANKFURT, Aug 24 (Reuters) – Germany’s Uniper has signed a deal to import more than 30 terawatt hours of gas a year from Equinor from 2027, the companies said on Monday, strengthening Norway’s position as the key supplier to Europe’s biggest economy.
The deal, which runs until 2041, equates to nearly 3% of Germany’s annual gas imports, with Norway taking Russia’s place as the top supplier after Moscow ended most energy ties with the continent following its full-scale invasion of Ukraine.
The deal marks Uniper’s latest move to diversify its supply base after a recent agreement with Canada, in an attempt to reduce the risk of shortages highlighted by the war in Iran.
“This long-term agreement is an important step for the future of Europe’s energy system,” Uniper CEO Michael Lewis said in a statement. “With this agreement, we are strengthening Germany’s long-term gas supply whilst at the same time deepening our cooperation with Equinor.”
The companies also said they wanted to expand their cooperation to drive forward the development of natural gas with lower emissions, highlighting the reduced carbon intensity of Norwegian gas.
The firms did not provide more details about the cooperation.
“This agreement highlights the strong demand for reliable, long-term gas supplies from the Norwegian continental shelf, which provide energy and industrial raw materials with lower CO2 emissions than alternative sources of gas,” Equinor CEO Anders Opedal said.
Sources previously told Reuters that Equinor is among the parties interested in state-owned Uniper, which Berlin is seeking to divest after bailing out the utility during Europe’s energy crisis in 2022.
(Reporting by Christoph Steitz, editing by Thomas Seythal)