US power and LNG terminals owner AES Corp. narrows losses as it counts cost of moving to renewables
AES Corp. of the US whose businesses include electricity supplies and stakes in liquefied natural gas and power in the Dominican Republic and Panama, has been able to narrow its net losses amid changing markets and as its swallows the high cost of moving to renewables.
Equinor earnings
Oct 27 (LNGJ) – Equinor, the Norwegian energy major and supplier of natural gas and LNG to Europe, reported a 73 percent drop in net income to $2.50 billion from $9.37Bln in the same three months of 2022 as prices plunged over the Northern Hemisphere summer months. Adjusted earnings dropped to $8.02Bln from $24.47Bln in the prior-year quarter. “Equinor delivered strong cash flow and earnings in a quarter with considerably lower gas prices than last year. The gas production from the Norwegian Continental Shelf was impacted by planned maintenance and extended turnarounds,” explained Anders Opedal, President and CEO of Equinor.
“We continue our transition, with first power from Dogger Bank in the UK - the world’s largest offshore wind farm, further expanding in onshore renewables in Brazil and Poland, and investing in the Bayou Bend CCS project in the US. With the approved plan for electrification of Hammerfest LNG, and start-up of power from shore for Gina Krog field, we continue to reduce our own emissions,” added Opedal.
