Equinor Buys Shell's Stake in the Linnorm Gas Discovery
12/14/2023
(Reuters) — Norway's Equinor said on Thursday 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
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
- Macquarie, Dow Launch $2.4 Billion Gulf Coast Pipeline Infrastructure Partnership
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments