26 April 2024
EC tells Norway to renegotiate GFU gas sales contracts
Publication date: 14 June 2001
Gas Strategies Group
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The European Commission yesterday told Norwegian energy companies Statoil and Norsk Hydro to renegotiate long-term gas supply contracts made by the Norwegian government's Gas Negotiating Committee (GFU) because they contravene European Union competition law. The EU said Norway had broken competition law because the GFU fixed the price and quantities of gas sold. Norway – although not a member of the EU – is covered by the Commission's antitrust regulations under the European Economic Area (EEA) agreement.