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Norway Gas Plant Upgrade Costs Skyrocket
7 Oct
Summary
- Equinor has again increased cost estimates for the Hammerfest LNG plant.
- This is the second cost revision in less than a year.
- The project highlights the high expenses of Norwegian Arctic infrastructure.
Equinor ASA has announced another upward revision to the projected costs for upgrading its Hammerfest liquefied natural gas plant. This latest adjustment comes less than a year after a previous cost increase for the same facility.
The situation draws attention to the considerable expenses associated with executing major infrastructure developments in the challenging environment of Norway's far north. Such projects, vital for energy supply, are proving to be significantly more costly than initially anticipated, raising concerns about project financing and timelines.
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