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Norse Energy signs new gas transportation agreement for its pipeline division.

M2 EQUITYBITES-September 24, 2010-Norse Energy signs new gas transportation agreement for its pipeline division(C)2010 M2 COMMUNICATIONS

Oil and gas company Norse Energy Corp ASA (OSE:NEC) (OTC:NSEEF) has signed a one-year gas transportation agreement for its pipeline systems division Norse Pipeline LLC, the company disclosed on Thursday.

As per this agreement Norse Pipeline will gather a minimum incremental daily quantity of 1,000 mcf/d, representing an increase of about 7% in the pipeline divisiona[euro](tm)s throughput, the company said.

In the first half of 2010 the pipeline division generated EBITDA of about USD1m.

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Publication:M2 EquityBites (EQB)
Date:Sep 24, 2010
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