Equinor halts Tanzania LNG project
1/29/2021
Norway's Equinor is halting plans for an LNG development in Tanzania, arguing it would not be sufficiently profitable, although it may revive the project at a later time, the energy company said.
The book value of the gas discoveries will be written off by $982 million, hitting Equinor's fourth-quarter earnings due next month.
(Reporting by Terje Solsvik, editing by Nerijus Adomaitis)
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