Equinor is writing down the value of a long-delayed LNG project in Tanzania by $982m.
The Oslo-listed energy giant company called the Tanzania LNG (TLNG) scheme uncompetitive, with an anticipated break-even price well above the group's portfolio average.
"While progress has been made in recent years on the commercial framework for TLNG, overall project economics have not yet improved sufficiently to justify keeping it on the balance sheet," Equinor said.
