ORLEN and Equinor Sign Long-Term Oil Supply Deal
- ORLEN signed a contract with Equinor for over 6 million tonnes of crude oil from the Johan Sverdrup field.
- The contract covers 15% of ORLEN Group's annual oil demand, starting deliveries in September.
- Crude oil will be shipped from Mongstad to refineries in Poland, Lithuania, and the Czech Republic.
- Johan Sverdrup field has CO₂ emissions 80–90% lower than the global average.
Contract Details
ORLEN has entered into a contract with Equinor for the supply of over 6 million tonnes of crude oil from the Johan Sverdrup field on the Norwegian Continental Shelf. This agreement will cover approximately 15% of ORLEN Group's annual oil demand, with deliveries commencing in September.
Logistics and Destinations
The one-year contract specifies that crude oil will be delivered from the Norwegian port of Mongstad. Shipments are planned for refineries located in Poland, Lithuania, and the Czech Republic.
Environmental Impact
The Johan Sverdrup field, the third largest on the Norwegian Continental Shelf, is notable for its significantly reduced CO₂ emissions, which are 80–90% lower than the global average. This is achieved as the oil platforms are powered by electricity from shore, largely sourced from renewables.
Strategic Implications
This contract marks a strategic move for ORLEN, enhancing energy security by diversifying supply sources and eliminating Russian crude from its refineries. The agreement with Equinor is part of ORLEN's broader strategy to secure stable production and energy security through alternative supply sources.
Source: ORLEN