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

Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows

From Fixtures to Values: Where the Jackup Recovery Is Already Being Priced

Eni and Petronas JV Extend Ventura Offshore’s Drilling Job in Indonesia

Saudi Arabia Eyes Oil Pipeline Expansion to Red Sea

SBM Offshore, SWS Sign Deal for Seventh FPSO Hull

Perenco Inks Gas Sales Deal for Vietnamese Offshore Field

Eni and Petronas Launch Southeast Asia Gas Joint Venture Searah

Aramco Picks McDermott for Energy Projects in Saudi Arabia

Indonesia Targets Higher Oil and Gas Output in 2027

Three Dead After Incident at Petronas' FSO Offshore Malaysia

Current News

EnQuest Clears Key Hurdle for $833M Malaysia Offshore Deal

ONGC Plans Major New Indian Oil Reserve

LNG Tankers Resume Hormuz Crossings Amid Tensions

Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows

From Fixtures to Values: Where the Jackup Recovery Is Already Being Priced

Eni and Petronas JV Extend Ventura Offshore’s Drilling Job in Indonesia

Dolphin Drilling’s Blackford Dolphin Secures More Work for Oil India

Oil Surges 3% on Renewed US-Iran Strikes

Offshore Vessel Pair Ordered from Grandweld Shipyard

ADNOC, XRG and Mitsui Broaden Energy Cooperation

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