Equinor Lifts Snøhvit Future Cost Estimate to NOK 26.5bn but Keeps Timetable

Equinor's project to reduce emissions at Norway's Hammerfest LNG plant has seen costs rise by 30% to NOK26.5 billion ($2.77 billion) due to unforeseen challenges. The project aims to cut local emissions by 850,000 tonnes annually and is 60% complete, with full electrification expected by 2030. Equinor operates the plant and holds a 36.8% stake.

Equinor (EQNR) revised the cost of its Hammerfest LNG plant extension to NOK26.5 billion (~$2.8 billion), up from NOK13.2 billion in 2022. The company expects strong Q3 profits due to refining margins. EQNR offers a 3.87% dividend yield and trades 18.6% above its GF Value™ of $35.20. It has a GF Score™ of 72, indicating solid financial health and profitability.

Equinor raised the cost estimate for the Snøhvit Future project to NOK 26.5 billion ($2.5 billion) in 2026 value, up 32% from December 2025. The increase is due to operational challenges and unforeseen issues. The project, 60% complete, aims to extend the Hammerfest LNG facility's life and reduce emissions. Equinor maintains it remains profitable.

Apollo Global Management has submitted a non-binding bid for German energy firm Uniper, according to Reuters. Other bidders include Equinor, EPH, Brookfield, CPPIB, KKR, and RWE. The German finance ministry, which holds a 99.12% stake, aims to sell up to 74.12% of Uniper. Bidders will learn if they advance in the coming weeks.

Apollo Global Management has submitted a non-binding offer for German energy firm Uniper, according to Reuters. Other bidders include Equinor, EPH, and a consortium of Brookfield and CPPIB. The outcome may impact Uniper's future ownership and strategy.

Equinor increased the cost estimate for the Snøhvit Future LNG project to $2.7Bn, adding $1.1Bn to the initial estimate. The project, 60% complete, aims to maintain production and reduce emissions. Challenges include operational issues and weather conditions, but Equinor maintains it remains profitable.