What are the key terms of Equinor's new five-year gas supply deal with Eneco for Germany?

Equinor has signed a five-year gas supply agreement with Dutch energy firm Eneco to deliver approximately 2.2 terawatt hours (TWh) — or about 0.2 billion cubic metres (bcm) — of natural gas annually to Eneco’s German subsidiary LichtBlick, with deliveries running until 2030. The deal also includes Eneco purchasing guarantees of origin from Equinor to certify a lower-than-average greenhouse gas footprint for the supplied gas.

How does this agreement fit into Equinor and Eneco’s broader collaboration in 2024?

This Germany-focused agreement is the second between Equinor and Eneco in 2024, following a separate five-year deal signed in February to supply 0.5 bcm per year of gas to Eneco’s operations in the Netherlands; both agreements include guarantees of origin to verify reduced greenhouse gas emissions and reflect a shared commitment to lowering the carbon intensity of gas supply while it remains in use.