May 22, 2024
MARITIME: Equinor invests $1.33bn in Hammerfest LNG Terminal
Middle East: Oil demand remains low despite the ease in COVID-19 lockdown
– By Godswill Odiong

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By Our Correspondent
A Norway-based energy company Equinor has invested $1.33 billion in the upgradation of the Hammerfest LNG liquefaction plant, located on Melkoya Island, according to FleetMon.

It stated: “The new project, named “Snohvit Future” is intended to install onshore gas compression and electrification of the facility. The compression capability will ensure that there will be enough flow of LNG to the plant so that the exports remain undiminished till 2030. The electrification will ensure that the plant’s emissions reduce by 850,000 tonnes per annum.

“The project will involve the construction of three modules. First for a feed gas compressor, second for electrical steam boilers, and the last for a transformer station.

“The electrification process will involve major upgradation of the power plant and the nearby grid. This will include the construction of a new transformer station and a new high-voltage power lines. The plant will supply energy to new electric steam boilers, gas compressors, and other equipment. This will ensure that the plant is weaned off of natural gas and hence will help in decarbonization.

“Geir Tungesvik, Equinor’s vice president for projects, has stated that this upgrade will allow them to secure long-term operations and exports from Melkoya by 2050.

“The Hammerfest LNG terminal produces 4.3 million tonnes of LNG per annum. This accounts for about 5% of all Norwegian gas exports and is enough to ensure the supply of one Floating Regasification and Storage Unit (FSRU) at a European Port.”

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