Statoil A.S.A., Norways
state developer of the vast Snøhvit offshore Arctic
gas field, has admitted yet another cost hike in construction
(ENR 4/25 p.30). Now put at $9.2 billion, the cost of extracting,
piping to shore and liquefying the gas has climbed 19% since
the first firm forecast was made, "mainly because the
project was not sufficiently mature when it was sanctioned
in 2001," says Chief Executive Helge Lund. Gas deliveries
from the LNG plant off Hammerfest are now scheduled for December
2007. Project control has been transferred to another Statoil
team, reports the company.