Equinor Announces $1.33 Billion Investment in Hammerfest LNG Terminal

Norway-based energy company Equinor invested $1.33 billion in Hammerfest LNG liquefaction plant on Melkoya Island.

new project, Dubbed ‘Snohvit Future’, the project aims to install onshore gas compression and facility electrificationCompression capacity will ensure sufficient LNG flow to the plant to keep exports from declining until 2030. Electrification will reduce plant emissions by 850,000 tons per year.

This project involves building three modules. The first is the raw gas compressor, the second is the electric steam boiler, and the last is the substation.

of Electrification process includes major upgrades to power plants and nearby gridsThis includes building new substations and new high-voltage power lines. The plant will provide energy for new electric steam boilers, gas compressors and other equipment. This ensures that the plant is pulled away from natural gas and helps decarbonize.

Geir Tungesvik, Equinor’s vice president of projects, said the upgrade will ensure long-term operations and exports from Melkoya by 2050.

of Hammerfest LNG terminal will produce 4.3 million tonnes of LNG per yearThis accounts for around 5% of all Norwegian gas exports and is enough to secure a supply of floating regasification storage units (FSRUs) in European ports.

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