Czech GNCH signs direct long-term Norwegian gas supply contract with Equinor

Czech company Great North Canadian Holdings SE (GNCH) has signed a long-term contract with Norwegian state-controlled company Equinor to supply natural gas from the Norwegian continental shelf. Deliveries are due to begin in May and will be primarily intended for large-scale consumers and gas traders. GNCH informed the Czech News Agency (ČTK) of the deal today. It says it will so far be the only Czech company with a direct contract with Equinor. The financial terms have not been disclosed.

The agreement is intended to secure stable, multi-year direct supplies of Norwegian natural gas to Czechia, the company said. “We are pleased to have brought several months of challenging negotiations to a successful conclusion. At a time when Europe is still seeking ways to permanently reduce its dependence on Russia, a long-term contract is an important strategic safeguard,” said GNCH board member and spokesperson Mikuláš Klang.

GNCH plans to focus primarily on large-scale consumers in various industrial sectors and the district heating sector, as well as gas traders. „These could be individual companies or groups that, following last year’s market turmoil, had to look for reliable alternative sources of natural gas,” Klang added. The company will not supply gas to households.