Equinor tops European projects investment list
Baku, Azerbaijan, Oct.31
In Europe, Equinor ASA, Gaz-System SA, and Snam S.p.A. are the top three spenders among all oil and gas companies on new build capital expenditure (capex) for planned and announced projects across the oil and gas value chain by 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Top Oil and Gas Companies Planned Projects and Capital Expenditure Outlook in Europe – Equinor Leads Capital Spending Across Oil and Gas Value Chain’, reveals that Equinor ASA tops the companies European spend list with an estimated capex of US$12.4bn expected to be spent on 24 projects. Gaz-System SA and Snam S.p.A. are the second and third biggest investors with US$5.8bn (30 projects) and US$5.6bn (25 projects), respectively. With Petoro AS in fourth position with US$3.8bn (7 projects) and Lundin Petroleum in fifth with US$3.7bn (3 projects).
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments, “Whilst Equinor ASA leads in planned and announced projects, Falcione Energia S.R.L is the number one capex investor in European new build regasification, with an estimated US$0.7bn spend on the upcoming Eagle Floating regasification terminal in Albania.”