Luxembourg, 1 February 2018: The Deutsche Oel & Gas Group has concluded a gas supply agreement with Municipal Light & Power (ML&P), a local energy provider from Anchorage in Alaska, covering the period from 3 January 2018 to 3 January 2019. This means it will be possible to supply all energy providers in the Cook Inlet with natural gas from the Kitchen Lights Unit.
Under the terms of the agreement with ML&P, gas procurement is negotiable, meaning that the precise volumes and purchase prices will be negotiated individually for each potential transaction. In 2017, production revenue through negotiable gas procurement amounted to USD 7.2 million overall (2016: USD 4.6 million), which represents 20.8% of total revenue (2016: 19.6%).