Norwegian state-owned energy giant Equinor is scaling up its liquefied natural gas (LNG) ambitions with its first cargo from the U.S. Gulf Coast under long-term supply agreements with Texas-headquartered Cheniere, as the company works to double its global LNG portfolio by 2030.
Equinor has taken delivery of its first LNG cargo, which was loaded at Cheniere’s Sabine Pass LNG export facility in Louisiana and bound for Europe. The addition of LNG volumes from the Gulf Coast is perceived to further fortify the company’s integrated position, enhancing market access, portfolio flexibility, and long-term value creation.
Based on market demand, the Norwegian firm has explained that future deliveries will serve customers in Asia and Europe, demonstrating its ability to connect U.S. energy supply with growing demand in global markets through its integrated LNG portfolio.
The 15-year agreements signed in 2022 and 2023 enable Cheniere’s Gulf Coast facilities to ultimately supply Equinor with around 3.5 million tons of LNG annually, supporting the European player’s plans to double its global LNG portfolio by 2030.
Helle Østergaard Kristiansen, Senior Vice President for Gas and Power, commented: “Today’s milestone further strengthens Equinor’s position as a reliable supplier of energy to customers around the world. The United States will play an increasingly important role in our global LNG portfolio, complementing the strength of our existing gas position and providing additional flexibility to serve customers in Europe and Asia.”
According to the Norwegian firm, the agreements with Cheniere are part of a wider effort to grow a diversified LNG business that offers energy security through long-term, reliable supply arrangements, combining access to competitive gas resources, shipping capabilities, and global marketing and trading expertise to deliver energy where it is needed.
Chris Golden, U.S. Country Manager and Senior Vice President Upstream U.S. and Argentina, underlined: “The United States is a cornerstone of the global LNG market, with abundant natural gas resources, world-class infrastructure, and a growing role in meeting energy demand around the world.
“This first cargo highlights how Equinor can connect reliable American energy supply with customers in global markets, while further strengthening our long-term position in the United States.”
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