Equinor Targets Record LNG Expansion Amid European and Asian Demand Surge

Equinor plans to significantly expand its liquefied natural gas (LNG) supply portfolio in the early 2030s, aiming to meet growing demand from Europe and Asia. The Norwegian energy company aims to increase its LNG supplies to between 10 million and 15 million metric tons per year.

The expansion will focus on new sources, including the US East Coast, Western Canada, South America, and non-Tanzanian African nations, excluding Equinor's delayed mega-project in Tanzania. The company currently supplies half of its LNG from its Hammerfest 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 another deal with an Asian customer this week. The company's vice president for LNG, Ingvar Egeland, stated that Equinor focuses on supplying state energy companies and fertilizer producers.