ESSEN/STAVANGER (dpa-AFX) - Energy group RWE has signed a new natural gas supply contract with Norwegian oil and gas producer Equinor for five years. A supply of 10 to 15 terawatt hours of natural gas per year has been agreed, the companies announced in Essen and Stavanger on Monday. For comparison: ten terawatt hours correspond to the annual demand of around 500,000 households with an annual consumption of 20,000 kilowatt hours.

The contract was concluded at market conditions. The companies did not provide any information on the financial volume. The contract will start in October 2023. Equinor is one of Europe's largest oil and gas customers. The group is two-thirds owned by the Norwegian state.

"For us as a global energy trader, gas plays an important role in the energy transition," said Andree Stracke, CEO of RWE's Supply and Trading division. "The new supply contract is another important building block in our pan-European gas portfolio and contributes to security of supply."/tob/DP/mis