Norway Postpones Decision on Arctic Oil Terminal

Friday, December 14, 2018

The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe until the third quarter of next year, it said on Friday.

If built, the onshore Veidnes terminal would receive crude via a pipeline from Equinor's offshore Johan Castberg oilfield, which is expected to start producing in late 2022.

Equinor originally ditched plans for an onshore terminal in order to save costs, preferring instead to load oil on to crude tankers at the field before exporting it to global markets.

Parliament earlier this year urged the government to secure the construction of an onshore terminal, however, as it would generate significant investment and jobs in the remote region.

The energy ministry said on Friday further studies were needed into the project, which is supported by labor unions.

Environmentalists, however, oppose both the oilfield and the proposed terminal.


(Reporting by Terje Solsvik; Editing by Mark Potter)

Categories: Tankers Energy Arctic Operations Pipelines FPSO Arctic Oil Floating Production Government Regulations

Related Stories

Japan's Mitsui Eyes Alaska LNG Project

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

INEOS Picks Up CNOOC’s US Assets in $2B Deal

BP Greenlights $7B CCUS Scheme Tied to Indonesia LNG Facility

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

India Defends Propping Up Russian Oil - Prices "would have hit the roof"

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Floating Wind and the Taming of Subsea Spaghetti

Equinor Tries Again for a Japan Offshore Wind Lease

ABS Takes Charge of Digital Twin Project for Petrobras’ FPSOs

Current News

Petronas Inks Two More PSCs for Bid Round 2024, Launches Round 2025

CNOOC Brings Online Second Phase of Luda Oil Field Project in Bohai Sea

Japan's Japex Shifts Back to Oil and Gas Investments

Tokyo Gas Enters LNG Market in Philippines

ONE Guyana FPSO En Route to ExxonMobil’s Yellowtail Field

SLB Names Raman CSO, CMO

Eco Wave Finds Partner for Wave Energy Project in India

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

SOV/CSOV Shipbuilding Market: Strong Growth, Volatility in Coming 5 Years

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com