Natural Gas Agreements between DONG Energy
and WINGAS and Wintershall Erdgas Handelshaus
Copenhagen DONG Energy (Denmark) and WINGAS GmbH (Germany) have agreed to a 13 year natural gas swap cooperation. Both companies signed an agreement to the following matters: DONG Energy will deliver five billion cubic metres to WINGAS in UK during the period 2007 to 2017. In return WINGAS will deliver five billion cubic metres to DONG Energy in Northern Germany during the period 2010 to 2020. In addition, DONG Energy and Wintershall Erdgas Handelshaus (WIEH) have agreed on gas deliveries in Germany under which WIEH will deliver up to 0.7 billion cubic metres per year during the period 2010 to 2020. "By signing this natural gas purchase agreement DONG Energy is taking an important step to diversify its purchase portfolio and to further secure future gas supplies to the customers. At the same time, DONG Energy manages to move gas from the UK to DONG Energy's markets in North West Europe by the swap agreement. We are pleased to announce that the new agreements signal the start of a new long term partnership with WINGAS and WIEH," Mr. Kurt Bligaard Pedersen, Executive Vice President of DONG Energy, comments. "The cooperation will encourage the competition in the European gas market and will also make an important contribution to securing Europe's energy supplies. It will also strengthen WINGAS' presence at the UK market as well as establishing a long term partnership with DONG Energy with a potential for further joint commercial projects," Dr. Rainer Seele, Chairman of WINGAS stresses.
For further information, please contact:
Michael Steen-Knudsen: +45 4480 6850
Ulrik Frøhlke: +45 4480 6912
WINGAS GmbH is a European energy company, which supplies natural gas to customers in Germany, Belgium, France, the UK, Austria, Denmark and the Czech Republic. Its customers include municipal utilities, regional gas suppliers, industrial concerns, and power stations. Since 1990, the company has invested more than 3 billion euros developing its own natural gas transport and storage infrastructure. The more than 2,000 kilometre long pipeline system, which is now operated by the wholly owned subsidiary WINGAS TRANSPORT GmbH & Co. KG, connects the enormous gas reserves in Siberia and the gas sources in the North Sea with the growing sales markets in Western Europe.
In developing its pipeline grid WINGAS backed the use of cutting edge glass fibre technology right from the outset. Initially, data transfer was focused on controlling and monitorinog the pipeline system but with the liberalization in the telecommunications markets in 1996 WINGAS was one of the first companies to begin marketing its fibre optic network. Today WINGAS counts many well known companies in the telecommunication and IT industries among its customers.
Wintershall Erdgas Handelshaus GmbH & Co. KG (WIEH) is a joint trading company of Wintershall in Kassel and the Russian gas group, Gazprom. Established in 1990, WIEH is responsible for buying, transporting, storing, and marketing natural gas in several European countries. The company is based in Berlin.