LNG

Equinor, the Norwegian oil and gas company, is boosting the feed-gas supplies from another field in the Barents Sea to produce more LNG from the Hammerfest plant on Melkøya Island in northern Norway.

Equinor posted a multiple increase in net profits and revenues as it stepped up to boost European energy security with more pipeline gas, a re-started LNG plant and 18 percent higher gas output from the Norwegian Continental Shelf.

Norway’s Equinor has sold North Sea oil and natural gas asset to the private equity-backed player Sval Energi in a deal including a cash payment of US$1 billion and a contingent payment structure linked to realised oil and gas prices for both assets for 2022 and 2023.