Russian and Norway energy companies sign contract

The Norwegian company Troms Kraft and the Russian company Kolenergo have signed an agreement on selling Russian electrical energy to Norway and Finland. The sum of a one-year contract is $13m.

According to the contract, Troms Kraft will buy energy that will be exported from the Kola peninsular to Norway and Finland.

Moreover, a tripartite agreement on cooperation between Kolenergo, Troms Kraft and Varanger Kraft was signed. According to the document, Varanger Kraft will transport Russian energy and build power-transmitting lines between Russia and Norway with Kolenergo.

Troms Kraft started buying electrical energy from Kolenergo in 1995. Some 1.5bn kilowatt/hour have been purchased since that time.