The Norwegian authorities have, as part of the ongoing restructuring of the Norwegian gas activities, for some time considered a change in the Norwegian resource management system, including the abolishment of the Gas Negotiating Committee (GFU). Important considerations are the increased maturity of the Norwegian Continental Shelf, the opening of the gas markets in Europe, and changes in company structures along the gas value chain. In these circumstances the producers on the Norwegian Continental Shelf should have increased freedom to act commercially.

The Government has therefore decided that the marketing of Norwegian gas through the GFU to the EEA will be temporarily discontinued as of 1 June 2001. The GFU will be permanently abolished as of 1 January 2002, dependent on approval by the Storting.

Necessary changes in the legal framework will be prepared prior to the permanent abolishment of the GFU. The government will instruct the companies on the Norwegian Continental Shelf to initiate the adaptation of contracts and other agreements between themselves, in order for the companies to be able to market their gas on an individual basis from now on.

Certain temporary arrangements will be necessary pending the formal abolishment of the existing arrangements.