Norwegian energy company Equinor has signed a five-year deal to supply gas to OMV, as part of the Austrian group’s strategy to diversify supply, the companies announced on Wednesday, Reuters reports.

Equinor will deliver 12 TWh of natural gas starting October 1 (the start of the European gas winter season), adding to the volumes established under existing contracts, the companies said.

The gas will be delivered to the platform THE (Trading Hub Europe) in Germany, for the European portfolio of OMV and the price “is according to market conditions”.

“With these new volumes, OMV continues its gas diversification strategy,” informed the company, according to Agerpres.

OMV already purchases gas from its own production sources in Norway and Austria, through long-term liquefied natural gas (LNG) deliveries at the Dutch Gate terminal and through the EU’s common gas procurement platform. OMV also still has long-term supply contracts with Russian group Gazprom that run until 2040.

“We are seeing an increase in demand for bilateral contracts for customers who see gas from Norway as a factor for energy security but also for stimulating the energy transition,” said Helge Haugane, vice president at Equinor.

Norway is currently Europe’s largest supplier of gas, surpassing Russia, whose supplies have been significantly reduced following the invasion of Ukraine and problems with the Nord Stream pipeline.

Austria still receives about 66% of its natural gas imports from Russia via pipelines in eastern Europe, and the country wants to diversify its sources of supply.

In 2022, annual gas consumption in Austria stood at 85 TWh, down from 93 TWh in 2021.