EQNR - Equinor LNG plant resumes operation after 20-month outage

Equinor (NYSE:EQNR) said on Friday it has resumed operations at its Hammerfest liquefied natural gas plant in Norway and is preparing to restart LNG production, following a 20-month outage due to a fire in September 2020. The restart is welcome news for the natural gas market, which is searching for alternatives to Russian supplies. Hammerfest, Europe's only large-scale LNG plant, can process 18.4M cm/day of gas when fully operational, ~5% of Norway's gas export capacity. The plant liquefies gas piped in from the offshore Snohvit field, 100 miles away in the Barents Sea, which was forced to shut down because of the facility's closure. "Equinor's stock has been in a positive bubble since June 2021, and is likely to continue on an upward trajectory," Gavin Barwell writes in a bullish analysis posted recently on Seeking Alpha.

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Equinor LNG plant resumes operation after 20-month outage