Equinor says new LNG supply will enter the global market in 2027.

According to a recent Reuters report, Equinor (the Norwegian state-owned oil company) recently stated that new liquefied natural gas (LNG) supply may be delayed until 2027 before entering the global market. However, Fatih Birol, Executive Director of the International Energy Agency (IEA), recently said he expects a wave of new LNG to hit the market by late 2025 or 2026. Eirin Lømehaug, Equinor’s Senior Vice President for Marketing, Midstream and Processing, said that as Europe’s largest gas supplier, the company has conducted a series of market surveys indicating that new global LNG supply will not appear before the end of 2026 at the earliest. TotalEnergies recently also stated that due to project delays, labor shortages, and inflation, the next wave of new LNG entering the global market may not arrive until 2027. Previously, Equinor had signed LNG supply agreements with U.S.-based Cheniere Energy for new U.S. projects. Lømehaug added that new LNG supply will drive down gas prices and revive demand; however, for this winter, the market will remain in tight balance, and there will be no sharp price increases.

Equinor supports European natural gas demand.

This non-EU member country has never shied away from emphasizing the importance of natural gas. Norway has long advocated that gas should play a central role in the EU’s green transition—and is now seeking more willing partners. In late April, German Chancellor Olaf Scholz thanked Norway for enabling his country’s independence from Russian gas “within just a few months,” praising Norway as a “perfect partner” in securing supplies for Germany and Europe. Norway’s new role as Europe’s gas supplier is highly profitable: in 2022, its gas exports hit a record high of 1.4 trillion Norwegian kroner (US$130 billion). Last summer, Equinor announced it would extend maintenance periods at some of its largest gas facilities—drawing attention to its growing relevance in Europe. Within minutes, gas prices surged nearly 20%. The reaction was especially strong because traders had largely bet on a sharp price drop. Weak demand—and the fact that regional gas inventories would be depleted by late summer—led many to believe Europe had finally passed the most severe phase of its energy crisis. Unusually hot weather across the continent, which typically increases energy consumption, further heightened concerns. Unplanned power outages severely reduced Norway’s exports over several weeks, prompting trading desks across Europe to place greater emphasis on the “Equinor maintenance effect” in their models. As gas prices became increasingly sensitive to Equinor’s operational status, traders began closely monitoring daily updates from Gassco AS—a Norwegian company—on changes to maintenance schedules nationwide. A company spokesperson said internally at Equinor, “There are information barriers and procedures in place to ensure regulatory compliance, so that all market participants can access market-sensitive information simultaneously,” adding that Gassco is a “neutral and independent system operator.” Traders have already grown wary of unexpected outages. Until the end of 2021, Gazprom had been a reliable supplier—a key reason why natural gas prices remained stable over the past decade. When disruptions suddenly became more frequent, prices spiked, triggering an energy crisis. At the time, no one knew that the reduction in gas flows was part of preparations for the Russia-Ukraine crisis. Around November, traders began incorporating the loss of Russian supply into their pricing models. Europe’s fundamentals are significantly stronger than they were a year ago—but the situation remains unstable. Any threat to fuel supply could disrupt markets and trigger downstream effects: persistent price volatility in the gas market may prompt industrial companies to restrict fuel use and push up household bills. Nnenna Amobi of BloombergNEF wrote in a May 1 report: “With Norwegian facilities recovering from last year’s large-scale maintenance, Norway is expected to meet more of Europe’s gas demand this summer. However, unplanned outages could reduce flows and cause prices to rise.” Meanwhile, gas supplies from Norway this year may set a new record. Equinor has been working to increase capacity and reduce bottlenecks by streamlining maintenance operations. The government’s internal slogan—repeated frequently by Energy Minister Terje Aasland—is that Norway will become a “stable and long-term energy supplier” for decades to come.

Equinor, Eneco Sign Five-Year Gas Delivery Deal

Oct 12, 2026

Equinor and Eneco have signed a five-year agreement to deliver approximately 9 terawatt hours of natural gas annually starting October 1, including verified environmental attributes with a lower greenhouse gas footprint than the Dutch grid average.

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