The recently disclosed update of Cedigaz’ database on Long-Term Pipeline Supply Contracts in Europe shows limited contractual activity during the past 12 months. Since the database’s last update in June 2014, only 3 new contracts, all with UK buyers, have been identified by Cedigaz for a total volume of 6.56 bcm/yr. with durations ranging from 6 to 10 years. This contrasts with the 18.3 bcm/yr. contracted or renewed in 2013, including 10 bcm/yr. of Shah Deniz contracts and the extension for 4 years (until the end of 2017) of the 6.2 bcm/yr. between Gazprom and Panrusgaz (Hungary).
Contracts in force in Europe[1]
At the beginning of 2015, Cedigaz’s database lists 110 contracts in force in Europe representing 410 bcm/yr. (including intra-European contracts), of which 60 contracts (263 bcm/yr.) with countries outside Europe (Algeria, Azerbaidjan, Iran, Libya and Russia), 25 contracts with Norway for a total 87 bcm/yr. and 25 contracts (61 bcm/yr.) with other countries inside Europe (mainly Dutch contracts).