Equinor (EQNR), Eneco Enter Five-Year Gas Supply Agreement for Dutch Market

Equinor (NYSE:EQNR) is one of the best value stocks to buy now. On February 5, Equinor and Eneco entered into a five-year gas supply agreement, securing up to 0.5 billion cubic meters/bcm of natural gas per year for the Dutch market. Deliveries to the Netherlands’ gas grid commenced earlier on February 1. This partnership reinforces the long-standing relationship between the Norwegian energy giant and the Rotterdam-based utility provider, which serves over two million customers across the Netherlands, Belgium, Germany, and the UK.

The deal focuses on the sustainability quality of the gas, which boasts a greenhouse gas footprint lower than the European average. Because production and transport on the Norwegian continental shelf are highly optimized, Eneco expects to reduce its reported CO2 emissions by more than 10% through this contract. The agreement uses the Attributes SAS digital platform to provide independent, transparent tracking of emissions data, ensuring that the guarantees of origin are verified by Norwegian authorities.

The agreement is a balance between energy security and climate goals. The Eneco CEO noted that while natural gas remains a necessary bridge in the energy mix, sourcing the lowest-emission options available is critical to their One Planet goal of climate neutrality. Equinor’s (NYSE:EQNR) Senior Vice President added that this contract serves as a model for how European energy players can use Norwegian gas to meet both reliability and sustainability standards.

Equinor (NYSE:EQNR) is an energy company that explores, produces, transports, refines, and markets petroleum and other forms of energy in Norway and internationally.

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