The liquefied natural gas (LNG) will be shipped in a new 7,500 cubic meter (cbm) capacity cargo vessel, which Gasnor will put into operation in the first half of 2009.
The contract is expected to allow Gasnor to meet increasing demand in Scandinavia, which is exceeding production capacity at its three liquefaction plants on the west coast of Norway.
The LNG supplies from Iberdrola reportedly represent an effective back up for production, and will help Gasnor meet supply contracts with its customers.
