05:51 AM EDT, 10/07/2026 (MT Newswires) -- Equinor (EQNR.OL) raised the cost estimate for its Snøhvit Future gas project in Hammerfest, Norway, to 26.5 billion Norwegian kroner from 20 billion kroner in December 2025. The Norwegian energy group, which owns 36.79% of the project, said Wednesday that the development is more complex than anticipated and has also been impacted by unforeseen issues and challenges. The cost for the project, which is 60% complete, was originally estimated at 13.2 billion kroner in 2022. Its timetable remains unchanged, with onshore compression scheduled to begin in 2029 and electrification in 2030. Petoro holds a 30% interest in Snøhvit Future, while TotalEnergies' (TTE.PA) TotalEnergies EP Norge holds an 18.4% stake, with Vår Energi (VAR.OL) and Harbour Energy's (HBR.L) Harbour Energy Norge owning the remaining 12% and 2.8%, respectively.

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