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Maersk Oil enters long-term contract with HMN Gashandel

Maersk International Gas Marketing A/S (MIGMAS), the gas marketing arm of Maersk Oil, has agreed to supply a significant amount of natural gas to HMN Gashandel A/S, a subsidiary of HMN Gassalg A/S, over the next couple of years.

Maersk Oil established MIGMAS last year as a way of marketing its gas directly to the wholesale market.

“This supply contract with HMN is one more step towards improved competition and better access to the Danish wholesale gas market from the North Sea. Having a contract with HMN also shows that there is a readiness in the market to have a new supplier which can deliver volumes directly from the North Sea,” said Torben Norgaard, Managing Director of MIGMAS.

HMN Gashandel is the largest supplier of gas to Danish households and also holds a large share of the country’s total gas market.

“The agreement with Mærsk strengthens our security of supply of Danish North Sea gas in the coming years, where there is a substantial risk of import capacity shortage at the Danish-German border. This agreement also ensures that our many customers can receive natural gas on the terms that are in line with the development of gas prices in Europe. It is HMN Gashandel's mission to secure low and transparent prices for the private consumer market,” said Ole Albæk Pedersen, CEO of HMN Gashandel.

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