1.44 billion dollars investment in natural gas from Norway

Equinor and its partners announced that they will invest $1.44 billion in the Irpa region for the export of approximately 20 billion cubic meters of natural gas to Europe. Production is expected to begin in 2026.

The Norwegian state-owned energy company Equinor and its partners announced that they will invest $1.44 billion in the natural gas field Irpa in the Norwegian Sea.

The project aims to export 20 billion cubic meters of natural gas to Europe.

Irpa, formerly known as Asterix, is one of the deepest natural gas fields in the Norwegian Sea with a depth of 1300 meters.

The Norwegian Minister of Energy stated that in the future, the Aasta Hansteen platform, located about 80 kilometers east of the Irpa region, will use the existing production capacity, and will also contribute to the prolongation of the life of the Hansteen region.

Production is expected to start in the last quarter of 2026 and continue until 2039. The amount of natural gas to be produced daily is not yet known.

Equinor owns 51 percent of the Irpa region’s license, Petoro 20 percent, Wintershall 19 percent and Shell 10 percent.

Source of Information : Bloomberg News