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British energy producer poised to sell North Sea gas to Gazprom

London-listed IOG struck deal with Russian state energy company months before Ukraine invasion

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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