Equinor plans $1.3bn funding to improve Norwegian LNG plant

Equinor and its companions within the Snøhvit area offshore Norway are planning to speculate NOK13.2bn ($1.34bn) to improve and electrify the Hammerfest LNG plant on the island of Melkøya, outdoors Hammerfest in Norway.

A plan for improvement and operation (PDO) for the modification, named Snohvit Future, has been submitted to the Norwegian Minister of Petroleum and Power by Equinor, on behalf of the Snøhvit partnership.

The Snøhvit gasoline and condensate area is situated northwest of Hammerfest in northern Norway. Manufacturing from the sphere is routed by way of a pipeline to the Melkøya gasoline facility.

The Snøhvit Future undertaking includes the set up of an onshore compressor; improvement of a brand new 420kV energy line from Skaidi to Hyggevatn, and set up of transformer station and electrical steam boilers on Melkøya.

Equinor mentioned the onshore gasoline compression is predicted to offer sufficient circulation from the reservoir to increase manufacturing capability and keep excessive gasoline exports from HLNG previous 2030.

Electrification is predicted to chop CO₂ emissions by round 850,000 tonnes per 12 months from the HLNG.

Norwegian Minister of Petroleum and Power Terje Aasland mentioned: “These investments, which permit us to utilise the capability at Hammerfest LNG for many years to return, are key to making sure Norway stays a long-term, predictable provider.”

The Snøhvit Future undertaking is predicted to spice up manufacturing from the Snoehvit area by roughly 60 billion cubic meters of gross sales gasoline.

Equinor initiatives, drilling & procurement govt vice–president Geir Tungesvik mentioned: “Snøhvit Future will strengthen Norway’s place as a dependable and long-term provider of LNG to Europe.

“Electrification will enable us to ship this gasoline with near zero greenhouse gasoline emissions from manufacturing. The undertaking will safe long-term operations and gasoline exports from Melkøya in the direction of 2050.”

Equinor operates the Snøhvit area with a 36.79% stake. different companions embody Petoro (30%), TotalEnergies EP Norge (18.40%), Neptune Power Norge (12%), and Wintershall Dea Norge (2.81%).