Thursday, 20 November 2014 - 14:30
Dutch deals with Shell, Exxon under review
The Cabinet wants to revise the agreements with energy companies Shell and Exxon Mobil on the extraction and sale of Dutch gas. Minister Henk Kapm of Economic Affairs is examining the elimination of the so-called Gasgebouw, the ingenious system of agreements between the Sate and Shell and Exxon Mobil. Both companies own half of the Dutch Petroleum Company (Nederlandse Aardolie Maatschappij - NAM). Kamp wants to revise the agreements because of the decline in the gas reseves in the Groningenveld in Slochteren. He would not say whether the State is pursuing other financial or property relations within NAM, gas trading company Gasterra or Maatschap Groningen. According to the contract, Shell and Exxon Mobil are allowed to extract gas in Slochteren as long as it is economically viable.