A British energy group will sell gas produced from one of the newest fields in the North Sea to a subsidiary of Gazprom at a time when western companies are under pressure to sever business links with Russia.
London-listed gas producer IOG has committed to sell its share of production from the Elgood gasfield to the Russian state energy company’s UK-based trading and marketing arm for two years.
Elgood, in which IOG has a 50 per cent holding, is scheduled to start production within the next fortnight.
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