Equinor Targets 10-15 Million Tons of LNG Capacity by Early 2030s

Equinor plans to expand its liquefied natural gas supply portfolio to meet growing demand from Europe and Asia. The Norwegian producer aims to reach a capacity of between 10 million and 15 million metric tons per year by the early 2030s, up from its current level of around 7 million tpy.

The company's vice president for LNG, Ingvar Egeland, said they have been in dialogue with several counterparties, including state energy companies and fertiliser producers in India and Southeast Asia. Equinor has already committed to a 15-year supply deal with India's Deepak Fertilizers and Petrochemicals Corp.

The expansion is partly driven by the impact of the US-Israeli war on Iran, which has disrupted LNG exports from Qatar and the UAE through the Strait of Hormuz. Asian buyers are seeking alternative supplies, and Equinor sees an opportunity to fill this gap.