Equinor to Boost Natural Gas Exports by Cutting Some Oil Production
Norwegian energy giant Equinor ASA is boosting its natural gas exports to help ease Europe's supply problems, decreasing oil production to do so, Equinor CEO Anders Opedal said, Bloomberg reported. Equinor has stopped the reinjection of gas that's been used…
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to boost oil output at the company's Gina Krog field, opting to export the fuel instead, Opedal said in a Bloomberg TV interview. Equinor will also increase its gas production at other fields, including the Troll field. The move will give Europe an extra 8 million cubic meters of gas daily. Norway's total gas supply currently exceeds 320 million cubic meters a day, but Europe's gas inventories are at their lowest seasonal levels in nearly 10 years, Bloomberg said.