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EQNR Secures Contract to Supply Gas to Eneco for Netherlands

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Key Takeaways

  • EQNR signs a five-year deal to supply up to 0.5 bcm of gas annually to the Netherlands from Feb. 1, 2026.
  • Equinor ASA will pass guarantees of origin via Attributes SAS, enabling Eneco to cut reported CO2 by over 10%.
  • Deals like this strengthen bilateral energy ties, support Dutch energy security, and add stability for EQNR.

Equinor ASA (EQNR - Free Report) signed a five-year gas supply deal with Dutch gas grid operator Eneco to supply natural gas to the Netherlands. Per the terms of the deal, Equinor will deliver up to 0.5 billion cubic meters (bcm) of natural gas annually, starting Feb. 1, 2026.

Apart from supplying natural gas, the Norwegian energy company will also pass on special certificates called 'guarantees of origin' to Eneco via a digital platform provided by Attributes SAS. These certificates demonstrate that the gas is produced with lower carbon emissions, as it originates from fields on the Norwegian continental shelf, where production and transport have a smaller carbon footprint. According to the companies, this will enable Eneco to reduce its reported CO2 emissions by more than 10%.

Deals like this strengthen energy ties between Norway and the Netherlands while supporting the latter’s energy security. It also boosts EQNR’s cash flow and investor appeal, bringing stability to the business model.

With West Texas Intermediate (“WTI”) crude prices trading below $65 per barrel, according to oilprice.com, the business environment for EQNR’s upstream segment appears to be easing. However, the U.S. Energy Information Administration (“EIA”) predicts in its short-term energy outlook that crude prices may decrease further, suggesting that EQNR’s upstream business could remain under pressure in the coming days.

Equinorcurrently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other key players in the integrated oil and gas space whose business models are exposed to crude price volatility are Chevron Corporation (CVX - Free Report) , Exxon Mobil Corporation (XOM - Free Report) and BP p.l.c. (BP - Free Report) . CVX, XOM and BP carry a Zacks Rank #3 each at present. 

Chevron, headquartered in Houston, TX, boasts resilient upstream assets that helped it achieve record production in the fourth quarter of 2025.

With a workforce of around 100,500, BP operates as an integrated energy giant in 61 countries and delivers upstream production of nearly 2.4 million oil-equivalent barrels per day.

Like BP, XOM is an integrated energy giant that engages across the entire energy chain, from extraction and refining to its final products. Net production of XOM in 2025 climbed to 4.7 million barrels of oil equivalent per day, the highest level recorded in over 40 years.

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