Equinor, the Norwegian oil and gas major, has halted the gas leak at its Hammerfest LNG complex and the company is now focusing on stabilizing operations as it monitors when full activity might resume. This update comes as reports from TASS were cited in coverage of the incident.
In a formal statement, Equinor confirmed that the gas leak at the Hammerfest LNG facility in Melkia on May 31 was contained and that the situation is gradually returning to normal conditions. The corrective actions taken appear to have addressed the immediate risk, and the company stressed that safety remains the top priority as crews assess the next steps for restart and testing procedures.
Initial investigations indicated that the leak originated from a valve malfunction within one of the cooling plant circuits. This assessment guided the incident response, with engineers reviewing related components and implementing troubleshooting measures to prevent a recurrence. The incident underscores the importance of robust maintenance practices and continuous monitoring of critical infrastructure within LNG operations.
Meanwhile, European gas markets have been watching price movements closely. Last year’s price spikes were driven by concerns over supply constraints and the pace of LNG deliveries, with prices reaching elevated levels. Market observers noted that European buyers have been seeking assurances of steady supply as LNG terminals in different regions adjust to changing demand patterns. Analysts have generally observed that this year presents a more cautious but steadier outlook, aided by improved storage levels and diversified import sources.
On May 29, Sergei Kolobanov, deputy director of the Economic Center for Fuel and Energy Complexes, commented on the price dynamics, pointing out that the peak price environment persisted in the prior winter season due to anticipated shortages. He added that with evolving supply assurances and forward-looking market signals, European gas markets showed signs of resilience, even as global energy markets remain sensitive to geopolitical and logistical developments that affect LNG shipping and pricing. The broader context includes ongoing discussions about storage strategies, regional demand, and the role of LNG in balancing seasonal consumption across the continent.