The Norwegian state-owned oil and gas company Equinor is taking steps to meet the gas demand in Europe thanks to adjusted production permits from the Ministry of Petroleum and Energy allowing higher gas production and exports from the Troll, Oseberg and Heindrun fields. Indeed, the adjusted production permits will allow the Oseberg and Troll field to increase their gas production by around 1 bcm for the period until 30 September 2022. For the Heidrun field gas exports can increase by 0.4 bcm for the calendar year 2022. This should enable Equinor to export an additional 1.4 bcm of gas to Europe.
In addition, the group has started the process to exit its projects in Russia. Equinor will still receive oil, naphtha and feedstock cargoes from Russia under contractual commitments signed before the Russian invasion of Ukraine. However, it will stop trading in Russian oil and will not enter any new trades or engage in transport of oil and oil products from Russia.