Equinor Says Snohvit Future Project Delayed, Flags Higher Cost Estimate

MT Newswires Live12-22 23:23

Equinor (EQNR) said Monday that the Snohvit Future project in Norway has been postponed, and cost estimates have increased.

Onshore compression at the project is now expected to begin in 2029, one year later than the original plan, Equinor said.

The cost estimate for the project has been increased to over 20 billion Norwegian krone ($1.98 billion) from an original cost estimate of 13.2 billion krone in 2022, Equinor said.

Equinor Energy owns 36.79% of the project, with the remaining held by Petoro, TotalEnergies' (TTE) Norwegian unit, Var Energi, and Harbour Energy Norge.

Price: 22.72, Change: -0.11, Percent Change: -0.46

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