Reuters: Analysis: Statoil to gain in Europe's shift to spot gas pricing

Norway's Statoil has been quick to offer pipeline gas contracts linked to spot prices rather than oil, and it stands to gain the most from these deals, while its clients are likely to find themselves at a disadvantage a few years later.

Europe's two biggest suppliers of pipeline gas, Statoil and Russia's Gazprom, have traditionally signed long-term contracts with European buyers linked to the price of oil.

Because oil has been expensive compared with spot gas, this link has helped keep contract gas prices high.

An increasing number of Europe's utilities have sought to decouple their gas contracts from oil and link closer to spot markets such as Britain's National Balancing Point, Europe's biggest gas hub.

"Forty to 45 percent of long-term gas contracts are now hub-indexed," consultancy firm Energy Aspects said in a research paper published in August.  MORE