Equinor Targets 10-15 Million Tons of LNG Supply for Asian Markets

Equinor, a Norwegian energy producer, plans to expand its liquefied natural gas (LNG) supply portfolio in the early 2030s to meet growing demand from Europe and Asia.

The company aims to increase its LNG supply to between 10 million and 15 million metric tons per year by then, with half of this volume coming from its Hammerfest LNG plant in Norway.

Equinor has already committed to a 15-year LNG supply deal with India's Deepak Fertilizers and Petrochemicals Corp in May and is expected to announce a second deal to supply LNG to an Asian customer this week, according to Ingvar Egeland, the company's vice president for LNG.

The expansion plans are driven by growing demand from Asian buyers due to the disruption of Qatar and UAE LNG exports via the Strait of Hormuz caused by the US-Israeli war on Iran.