Equinor Raises Cost Estimate for Norway LNG Plant Upgrade and Reports Strong Q3 Trading Result
Equinor has increased its estimated costs for upgrading the Hammerfest liquefied natural gas (LNG) plant in Norway. The Snohvit Future project, aimed at extending the facility's operational life until around 2050, is now expected to cost more than previously projected. This marks a second revision within less than a year of initial estimates. The company also reported strong trading results for Q3, which helped offset some concerns over rising capital expenditures in its energy infrastructure projects. The updated figures reflect ongoing challenges related to inflation and supply chain disruptions affecting the broader oil and gas sector. Equinor's revised cost estimate highlights the financial risks associated with long-term energy transition investments while also showcasing resilience in short-term trading performance.
Tickers: $EQNR
Topics: Capital Expenditure Energy Infrastructure Liquefied Natural Gas (LNG)
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