Equinor ASA mentioned it might make investments $1.3 billion together with its companions within the Hammerfest LNG terminal to increase the lifetime of the Norwegian plant and reduce emissions considerably.
The corporate has submitted its improvement plan to Norway’s Ministry of Petroleum and Power so as to add onshore compression and electrify the terminal. It’s aiming to have the brand new amenities on-line by 2028.
“This is among the largest particular person emission discount measures for decarbonization of oil and fuel manufacturing in Norway,” mentioned Equinor’s Grete Haaland, senior vp of northern exploration and manufacturing.
[Want to know how global LNG demand impacts North American fundamentals? To find out, subscribe to LNG Insight.]
Since Russia reduce almost all its pipeline exports to Europe, Norway has develop into the continent’s prime pure fuel provider. Norway’s pipeline and LNG exports to Europe are on monitor for a document this 12 months.
Hammerfest got here on-line in 2007. It’s the solely large-scale liquefaction terminal in Europe. The ability produces roughly 230 Bcf of the super-chilled gasoline yearly, or sufficient to satisfy the demand of 6.5 million European houses.
The ability, positioned on the island of Melkøya exterior the Arctic city of Hammerfest, is fed by the Snøhvit fuel discipline. Equinor mentioned including onshore fuel compression would assist preserve inlet stress for the plant as reservoir stress drops and preserve excessive LNG exports past 2030.
The undertaking would “strengthen Norway’s place as a dependable and long-term provider of LNG to Europe,” mentioned Equinor’s Geir Tungesvik, government vp for initiatives, drilling and procurement.
“Electrification will enable us to ship this fuel with near zero greenhouse fuel emissions from manufacturing,” he added. “The undertaking will safe long-term operations and fuel exports from Melkøya in direction of 2050.”
The undertaking would additionally contain constructing a transmission line to maneuver electrical energy from the shore and change gas-fired generators presently powering the power. Electrification is projected to chop 850,000 metric tons of carbon dioxide yearly, or the equal of 450,000 automobiles powered by fossil fuels.