Statoil breaks oil-linked gas pricing - FT.com:
"Europe’s second largest gas supplier has broken the link to oil prices in majority of its northern European contracts, moving much faster than expected on an issue seen as key to the continent’s industrial competitiveness.
Statoil, the Norwegian state energy company, told the FT all of its German contracts and nearly all its UK, Dutch and Belgian contracts now reference prices at regional gas hubs, which the European Union has been promoting as it seeks a more open gas market.
For decades European companies have tended to sign long-term supply contracts linked to the price of oil, whereas US companies have been able to buy gas for immediate delivery in a widely traded market, giving them more flexibility."
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