Gazprom to purchase Norwegian natural gas for delivery in UK

Energy Trade

OAO Gazprom, supplier of a quarter of Europe's gas, signed a one-year agreement with Norway's Norsk Hydro ASA to buy the fuel to deliver in the UK, Europe's biggest consumer of the fuel. Gazprom Marketing & Trading Ltd. (GM&T), the Russian company's UK unit, will buy 500 million cubic meters to deliver to British customers, the company said in an e-mailed statement today. The gas will be delivered to the UK through the Langeled pipeline, a new link which will transport gas from Norway to the UK starting Oct. 1, it said. GM&T manages Gazprom’s gas supply and trading activities in the liberalized European markets. GM&T supplies natural gas to customers in the United Kingdom, France, Belgium and The Netherlands. GM&T’s aim is to build on and expand Gazprom’s unparalleled customer service reputation in new gas markets and to be one of the top marketing and trading companies within the UK and Europe. (Bloomberg, gazprom-uk.com)

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