Equinor ASA expects European natural gas prices to slide by the middle of the decade as more LNG capacity comes online, but it plans to maintain production levels through 2030 as extreme supply volatility persists.

After a year of record prices and volatility, helping stoke lofty revenues for Equinor, management said prices have started to cool. Irene Rummelhof, executive vice president of Marketing, Midstream and Processing, said Europe has seen “some relief” from one of the “warmest winters on record in Europe.”

As the continent looks poised to meet the European Union’s 90% storage target for next winter, Rummelhof said price relief is possible thanks to “continued demand reduction and high liquefied natural gas imports….” 

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