Equinor Will Expand LNG Portfolio to 15 Million Tonnes
The energy firm targets a major supply increase by the early 2030s to meet rising demand in Europe and Asia.
Updated on Sept. 20, 2026 in Oil and Gas
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Equinor has set a strategic target to expand its liquefied natural gas supply portfolio to 15 million tonnes per year by the early 2030s. The plan aims to capture market share as global demand shifts and import restrictions take effect.
Why it matters
The expansion effort follows changing geopolitical dynamics and a formal EU ban on Russian LNG imports set to begin in 2027. Equinor intends to bridge supply gaps in critical international markets by scaling its production and trade capabilities.
Equinor aims for a 15 million tonnes per year LNG portfolio, supported by a 1.75 million tonnes per year supply agreement with Cheniere Energy. Meanwhile, the $42 billion Tanzania project contains 47.13 trillion cubic feet of natural gas.
The players
Equinor
This Norwegian state-owned multinational energy company is a major producer of oil and gas with global operations.
Cheniere Energy
This American energy company is the largest producer of liquefied natural gas in the United States.
Exxon Mobil
This multinational oil and gas corporation is one of the world's largest publicly traded energy companies.
The details
Equinor is developing its long-term strategy through partnerships with firms including Exxon Mobil, Pavilion Energy, Medco Energi, and the Tanzania Petroleum Development Corporation. The company has already begun sourcing supplies from the U.S. Gulf Coast, having received its first cargo from Cheniere Energy’s Sabine Pass facility in September 2026.
Timeline
Equinor and Cheniere Energy signed a 15-year supply deal in 2022.
Equinor received its first U.S. LNG cargo in September 2026.
The EU will officially ban Russian LNG imports starting January 1, 2027.
Equinor targets completion of its supply expansion by the early 2030s.
Market Landscape
Equinor is positioning itself to fill supply gaps created by the EU ban on Russian LNG imports. This move reflects a broader industry trend of pivoting toward international gas projects to meet shifting energy security requirements.
As energy companies like Equinor scale production, the shift may influence long-term stability in global gas markets and pricing for import-reliant regions. Consumers in markets like the Philippines, where LNG imports are projected to jump 508% by 2029, will see a transition away from traditional coal-based power.
The takeaway
Equinor’s aggressive expansion highlights the critical importance of diversifying energy sources in an era of tightening international trade restrictions. Investors and industry observers should track the development of massive infrastructure projects like the Tanzania LNG facility as indicators of long-term supply capacity.
Further reading
Explore deeper insights into global energy shifts in the Oil and Gas section.
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