Equinor posts increased internal gas price

Equinor reports a preliminary internal price of USD 29.77 per MMBtu in the first quarter, an increase from Q4 of 2021 and more than five times higher than Q1 2021.

BY ANDERS LIE BRENNA, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Norwegian oil company Equinor has reported a preliminary internal gas price for Q1 on its webpage. From May 4, the company projects an internal transfer price of USD 29.77 per MMBtu. This is slightly higher than Q4 of 2021 when the internal gas price came to USD 28.52 per MMBtu.

In first quarter of 2021, the price was USD 5.46 per MMBtu, which means that the price is 5.5 times higher this year.

The internal gas price is a volume weighted average price which Equinor sells gas for after deducting transport and marketing costs. It is based on prices from Title Transfer Facility in the Netherlands, National Balancing Point in the UK, Trading Hub Europe in Germany and Point d’échange de gaz in France.

Equinor will present its Q1 results on May 4.

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