Uniper, ConocoPhillips Extend Long-term Gas Supply Deal In Northwest Europe

(RTTNews) - German energy company Uniper SE (UNPRF.PK) Friday said that it has extended its long-term gas partnership with ConocoPhillips (COP) for the supply of up to 10 billion cubic meters of natural gas over the next 10 years.

Under the partnership, which dates back many years, ConocoPhillips will supply natural gas to Uniper in Northwest Europe while leveraging its existing piped gas and growing LNG positions.

Carsten Poppinga, CCO Uniper, said, "We are excited to announce this significant deal, which is not only a great success for Uniper but also of central importance to energy security. This deal aims to enable us to sustainably strengthen the supply of gas in Germany and Europe on a long-term basis."

Khoa Dao, CCO of ConocoPhillips, added that the agreement will further advance its growing LNG portfolio marketing efforts and help to ensure placement of vital gas supply into Europe.

Uniper supplies municipal utilities and industrial customers with a strong gas portfolio, includingpipeline gas and LNG, LNG regasification bookings and gas storage.

In Germany, Uniper shares were trading at 43.93 euros, up 1.93 percent.