Equinor stabilizes hydrocarbon production in Norway until 2035

Equinor confirms that it will continue to produce gas in Norway until 2035, thus ensuring the continuity of Europe's energy supply.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Equinor announces the stabilization of its natural gas production on the Norwegian Continental Shelf (NCS) at its current level for the next ten years.
This strategic choice responds to Europe’s sustained demand for gas, particularly in a context where traditional sources of supply are disrupted.
Anders Opedal, the company’s Managing Director, explains that this orientation is aimed at guaranteeing the continent’s energy security, by taking advantage of Norwegian gas resources.
In 2023, Equinor produced around 40 billion m³ of gas, and the company plans to maintain this level of production until 2035.
To achieve this goal, Equinor is investing significantly in the development of existing fields, in particular the Troll field, to ensure continuity of supply.

Targeted investments in the Troll Deposit

The Troll field remains a cornerstone of Equinor’s gas strategy.
In May 2024, the company decided to invest 12 billion crowns in the ongoing development of this site, guaranteeing stable annual natural gas production until 2035.
Troll, which supplies around 10% of Europe’s natural gas requirements, is crucial to the continent’s energy security. Norway, as Europe’s main supplier of natural gas, is consolidating its strategic role thanks to stable production from the Troll field.
These investments aim to secure gas deliveries to Europe while optimizing the use of available resources.

Impact on the European energy market

Equinor’s ability to maintain stable gas production is crucial to the continuity of supply in Europe.
The efficient management of Norwegian resources enables us to meet European demand against a backdrop of reorganized energy flows.
This stability contributes to the balance of the European energy market, supporting security of supply and mitigating price fluctuations.
Equinor’s current strategy, which combines stable production with targeted investments, is closely followed by industry professionals.
This approach guarantees an effective response to immediate market needs, while ensuring sustainable management of gas resources.

US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.
GTT has been selected by Samsung Heavy Industries to design cryogenic tanks for a floating natural gas liquefaction unit, scheduled for deployment at an offshore site in Africa.
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.
TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.
Monkey Island LNG has awarded McDermott the design of a gas terminal with a potential capacity of 26 MTPA, using a modular format to increase on-site output density and reduce execution risks.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
ADNOC Gas will join the FTSE Emerging Index on September 22, potentially unlocking up to $250mn in liquidity, according to market projections.
Norwegian company BlueNord has revised downward its production forecasts for the Tyra gas field for the third quarter, following unplanned outages and more impactful maintenance than anticipated.
Monkey Island LNG adopts ConocoPhillips' Optimized Cascade® process for its 26 MTPA terminal in Louisiana, establishing a technology partnership focused on operational efficiency and competitive gas export pricing.
NextDecade has signed a liquefied natural gas supply agreement with EQT for 1.5 million tonnes annually from Rio Grande LNG Train 5, pending a final investment decision.
Sawgrass LNG & Power has renewed its liquefied natural gas supply agreement with state-owned BNECL, consolidating a commercial cooperation that began in 2016.
Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.
Permex Petroleum signed a $3 million purchase option on oil and gas assets in Texas to support a strategy combining energy production and Bitcoin mining.
Enbridge announces the implementation of two major natural gas transmission projects aimed at strengthening regional supply and supporting the LNG market.
Commonwealth LNG’s Louisiana liquefied natural gas project clears a decisive regulatory step with final approval from the U.S. Department of Energy for exports to non-free trade agreement countries.
The Indonesian government confirmed the delivery of nine to ten liquefied natural gas cargoes for domestic demand in September, without affecting long-term export commitments.
The Egyptian government signs four exploration agreements for ten gas wells, allocating $343mn to limit the impact of the rapid decline in national production.
Hungary has imported over 5 billion cubic metres of Russian natural gas since January via TurkStream, under its long-term agreements with Gazprom, thereby supporting its national energy infrastructure.

Log in to read this article

You'll also have access to a selection of our best content.