Equinor and the Capital City of Prague’s gas and electricity company Pražská plynárenská have signed a long-term agreement for 10 years of gas supplies into the Czech Republic. Deliveries have started and will last until 2035.

Equinor’s supplies of pipeline gas to Europe are backed by the resources on the Norwegian continental shelf, Europe’s most important energy province.

Pražská plynárenská will use the gas to supply households and businesses in Prague and other parts of the country with heat, electricity and natural gas.

“I am excited that we have made this agreement with Pražská plynárenská and that we now provide energy to homes and enterprises in the Czech Republic. This joins a string of long-term gas contracts we have signed across Europe in recent years, demonstrating the role gas plays for European energy security,” said, Anders Opedal, CEO.

“This step will significantly strengthen the stability and reliability of natural gas supplies for Pražská plynárenská’s customers, and its scope will cover, among other things, a significant part of the total consumption of households supplied with natural gas by our company,” said Ludvík Baleka, Chairman of the Board of Directors of Pražská plynárenská.

While Equinor’s main gas markets have been in Northwest Europe and the UK, the company has during the last decade expanded its reach to include supplies to the Baltics and Poland and now sees a growing market potential among customers in Central and Southern Europe.

The agreement lasts until October 2035 and Equinor will deliver the gas at the Czech hub. Information on volumes, terms and conditions are confidential between the parties. -OGN/TradeArabia News Service