LNG

April 27 (LNGJ) - Norwegian energy company Statoil, operator of the only European baseload LNG export plant, the Hammerfest facility on Melkoya Island, has returned to first-quarter profit with total net income of $611 million compared with a loss of $4.57 billion in the same period of 2015. “I am pleased to see progress consistent with the priorities we presented in February,” said Eldar Saetre, President and Chief Executive. “We have a firm plan to improve efficiency and make faster and deeper cost reductions. We are radically improving our project break evens and we are on track to re-set costs and thereby impact the parameters that we can control.”