Equinor Targets 10-15 Million Tons of LNG by Early 2030s Amid Global Supply Disruptions
Norwegian energy company Equinor is expanding its liquefied natural gas (LNG) supply portfolio, aiming to reach 10-15 million metric tons per year by the early 2030s. The company believes this expansion will enable it to meet growing demand from Europe and Asia.
The current geopolitical situation has affected global LNG supplies due to disruptions in shipping through the Strait of Hormuz. This has led Asian buyers, particularly India and Southeast Asia, to seek new sources of supply. Equinor is focusing on securing deals with state-owned energy companies and fertilizer producers, as per its LNG vice president.
The company recently loaded its first U.S. LNG cargo from the Sabine Pass facility in Louisiana and is exploring additional sources of supply, including the U.S. East Coast, Canada's West Coast, South America, and Africa.