Equinor anticipates rising European gas prices due to Asian demand and uncertainties in Russian and LNG supplies.

Equinor, the Norwegian oil and gas firm, anticipates rising European gas prices due to increased Asian demand and uncertainties in Russian and LNG supplies. European gas storage, currently at 95%, is projected to drop to 40% by April 2025. In the third quarter, Equinor reported a 13% profit decline, attributing it to lower oil prices and production. The company cut its renewable energy growth forecast, now expecting a 50% increase in 2024, down from 70%.

October 24, 2024
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