Equinor buys Shell's stake in the Linnorm gas discovery
12/14/2023
(Reuters) - Norway's Equinor said it has agreed to buy Shell's stake in the Linnorm gas discovery in the Norwegian Sea, raising its ownership to 50%.
It said in a statement it expects to finalize the deal in the first quarter of 2024.
Equinor said the Linnorm find is the largest undeveloped gas discovery on the Norwegian Continental Shelf and is estimated to contain around 25-30 billion cubic meters (bcm) of recoverable gas resources.
"This does not impact our ambition to maintain a material upstream position," Shell Norway Managing Director Marianne Olsnes said in the joint statement.
Related News
Related News
Sign up to Receive Our Newsletter
- Cheniere signs deal with Bechtel to expand U.S. LNG export capacity
- TC Energy approves $1.5-B Columbia Gas expansion after profit tops estimates
- NextDecade to use Honeywell liquefaction technology for 30-MMtpy LNG terminal
- Wärtsilä continues to expand its data center footprint with new 790 MW order in Texas
- SUBLIME Energie inaugurates world's first system capable of liquefying biogas into a renewable fuel
Comments