Norway Adopts New Rules for Offshore Gas Transport System

New regulations were adopted by the Norwegian government that will govern access to Norway's offshore gas transport systems and determine tariffs for leasing capacity from GasLed.

The new company embraces the transport systems previously known as Asgard Transport, Statpipe, Europipe II, Zeepipe, Franpipe, Oseberg Gas Transport, Vesterled and Norpipe.

It also includes the gas treatment complex at Karsto north of Stavanger as well as three receiving terminals at Emden in northern Germany and one at St Fergus in the UK.

Ownership of the receiving terminals at Zeebrugge in Belgium and Dunkerque in France will also be adjusted following the creation of GasLed.

The company will be operational from January 1st.

I am very pleased that owners of the Norwegian gas transportation system signed an agreement concerning the establishment of a uniform ownership structure, Gassled. This is in line with a request from the Parliament and gives a basis for a more efficient management of Norwegian gas resources. We have now established an efficient transportation machine that gives sellers of Norwegian gas a better opportunity to meet the challenges of the liberalization of the European gas market. The establishment of Gassled will contribute to the realization of the Government's long-term scenario for value-creation from the Norwegian petroleum sector, the Minister of Petroleum and Energy Einar Steensnaes said at a press conference in Oslo on Friday.

The Norwegian gas transportation system is the world's largest offshore gas transportation system, comprises more than 6000 km of pipelines from the Norwegian shelf to Norwegian shore, the United Kingdom and the Continent, and transports 12 % of the European consumption of gas. The greater part of this system is included in Gassled.

Statoil has a 20.4 percent interest in the new company, where its partners are Petoro, Norsk Hydro, TotalFinaElf, exxonMobil, shell, ConocoPhillips, Agip, Forum and Norsea Gas.