Statoil Extends Snohvit Gas Contract Deadline

The deadline for confirming Snohvit gas sales contracts has been extended so that the licensees in this Barents Sea development can clarify its frame conditions with the authorities.

Those partners who hold contracts with Spain's Iberdrola and America's El Paso Global LNG Company can now wait beyond the original date of March 22nd to confirm these deals. This is reported by Otto Granli, vice president for gas sales and shipping at operator Statoil.

Work continues at Statoil to secure a postponement of the deadline for confirming deals to ship liquefied natural gas from the project. The Snohvit partners need to clarify the tax regime planned for the development by April 15th at the latest if it is to proceed.