UK Seeks 20-Year Gas Deal With Norway to Avoid Winter Blackouts
- Discussions may lead to locking in gas price for two decades
- Energy regulator warned of ‘significant risk’ of gas shortages
Photographer: Kristian Helgesen/Bloomberg
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The UK is on the cusp of securing a natural-gas contract with Norway for as long as 20 years in a bid to stave off the risk of winter blackouts, people familiar with the matter said.
A deal is expected to be secured next week, though ministers are still locked in negotiations with their Norwegian counterparts on price, the amount of gas and the length of the contract, according to one of the people, who asked not to be named discussing sensitive matters.