Article

The Snøhvit Future project in Norway has been delayed, with costs rising by approximately NOK 4 billion to over NOK 20 billion. Aimed at enhancing Norway's role as a low-emission gas supplier and supporting energy supply to Europe by 2050, the project will now see onshore compression starting in 2029, a year later than planned, due to severe weather, increased engineering costs, and inflation. Despite the setbacks, 70% of the project's value creation is expected to benefit Norwegian companies, with significant investments directed towards Northern Norway.