Vaar Energi has extended a natural gas supply agreement with Eni for 12 years.

The Norwegian company announced this in a note, adding that under the new agreement, Vaar Energi will supply up to 5 billion cubic meters of natural gas between 2024 and 2036 to the Emden and Dornum terminals in Germany at market prices.

"The agreement demonstrates Europe's trust and dependence on Norway as a key energy supplier at a testing time for the continent," said Nick Walker, Vaar's chief executive officer.

Last month, Vaar signed a similar agreement with Germany's Vng.

Norway became Europe's largest gas supplier in 2022, overtaking Russia after Moscow's invasion of Ukraine.

(Translated by Laura Contemori, editing Sabina Suzzi)