EQNR - Equinor says tanker loading at Hammerfest LNG despite shutdown from gas leak

2023-06-02 10:15:45 ET

Equinor ( NYSE: EQNR ) said the Arctic Aurora liquefied natural gas tanker is currently loading up at the Arctic Hammerfest LNG plant even as production is shut down because of a gas leak, Reuters reported Friday.

Equinor ( EQNR ) stopped production at Hammerfest, Europe's only large-scale LNG plant, on May 31 due to a leak in the cooling circuit, and currently expects to restart operations on June 8 .

Benchmark European natural gas priced spiked Wednesday on initial news of the leak, then tumbled more than 10% on Thursday to €24.33/MWh after Equinor ( EQNR ) said it had brought the leak under control.

Hammerfest can process 18.4M cm of gas/day when fully operational, slightly more than 5% of Norway's gas export capacity.

Equinor ( EQNR ) has become the single biggest provider of natural gas to Europe after Russia cut off most of its supply to the European Union last year after it invaded Ukraine.

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