The Johan Castberg partnership, consisting of Equinor, Vår Energi and Petoro, is today updating the project cost estimate. The investment estimate has increased by almost NOK 13 billion since last year.
Equinor and partners will replace two gas turbines with heat recovery to produce electric power. This will reduce annual CO2 emissions by 95,000 tonnes.
This decision is based on several challenges facing the project, including technology availability, rising cost and a strained timetable to deliver on the original concept.
