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Equinor to Supply Crude to Poland's Orlen With 3-Year Supply Deal

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Norway's energy major Equinor (EQNR) has signed a three-year agreement with Poland's Orlen to supply the latter with crude oil annually from the Johan Sverdrup field starting in September, the company said on Thursday.

Under the terms of the agreement, annual deliveries will range from 5 million tonnes to over 9 million tonnes, while further commercial terms remain confidential.

The pact also provides flexibility for potential shipments of other crude grades produced across Equinor's Norwegian fields, the company stated.

Executives emphasized that the crude will feed Orlen's refining network located across Poland, Lithuania, and the Czech Republic.

Johan Sverdrup remains the highest-output oil field on the Norwegian continental shelf, distinguished by energy-efficient production methods and significantly lower carbon dioxide emissions than the global average due to its power-from-shore set-up.

Orlen noted that the long-term contract will buffer against global energy market volatility, granting the group secure access to stable feedstock that could meet up to one-quarter of its annual needs.

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