Norway's Snøhvit LNG upgrade delayed to 2029, costing $1.96B due to weather, safety, and rising expenses.

Norway’s Snøhvit Future LNG project, aimed at upgrading and electrifying the Hammerfest facility, has been delayed to 2029 and now faces a $390 million cost increase, bringing total projected expenses to over $1.96 billion. The delay stems from operational challenges, harsh weather, extended turnarounds, safety shutdowns, and higher equipment and engineering costs. The project, about halfway complete, aims to maintain production as reservoir pressure drops and reduce annual CO2 emissions by 850,000 tonnes—roughly 2% of Norway’s total. Around 70% of its value is expected to benefit Norwegian companies, with over one-third supporting Northern Norway.