Uniper SE

Norway has started production from the second stage of the Troll Phase 3 development, accelerating 55 billion cubic meters of natural gas from the Troll West reservoir. Production began on August 22, several months earlier than planned and at a cost tens of millions of dollars below the original estimate of approximately $1.2 billion, according to Equinor. The project does not increase the Troll field's recoverable resources but brings existing gas reserves forward, supporting production through Troll A and the Kollsnes processing plant as output from other mature Norwegian fields declines. The 55 billion cubic meters covered by the project is equivalent to almost two years of French gas demand, and the development could accelerate as much as 7 billion cubic meters in a single year, roughly 6% of Norway's recent annual gas exports. The start-up comes one day after Equinor signed a 15-year agreement to supply Germany's Uniper with more than 30 terawatt-hours, or approximately 2.8 billion cubic meters, of gas annually from 2027.

Equinor, Aker BP and Vår Energi have agreed to form a strategic collaboration focused on exploration activities on the Norwegian Continental Shelf. The companies will pool their expertise, data, technology and exploration resources to pursue selected high-impact prospects, aiming to drill around five high-impact wells per year over the next four to five years, for a total of 20 to 25 exploration targets. The initiative seeks to identify major new discoveries that could lead to new stand-alone field developments, as output from the region is forecast to fall after 2035 without additional discoveries. Separately, Equinor and Aker BP discovered gas and condensate at the Linga prospect in production licence 782 S, with recoverable volumes estimated between 100,000 and 2.1 million standard cubic metres of oil equivalent. Equinor also signed a 15-year natural gas sales agreement with Uniper to deliver more than 30 terawatt-hours, or approximately 2.8 billion cubic metres, annually to Germany from 1 January 2027 to 31 December 2041.

Equinor and Uniper have signed a 15-year natural gas supply agreement securing long-term deliveries to Germany. The deal locks in more than 30 terawatt hours of annual gas deliveries from 2027 to 2041, reinforcing Equinor's role as a key supplier to European energy markets. The companies are also exploring the sale of sustainability-linked attributes related to the supplied gas. The agreement links Equinor's upstream gas position on the Norwegian continental shelf with long-dated, contracted demand in its largest gas market.

Uniper reported adjusted net income of $448 million for the first half of 2026, more than double the $156 million from the same period last year, as Germany has launched a sales process to privatize the energy giant it bailed out during the 2022 crisis. The company reaffirmed its full-year core earnings forecast and raised the lower end of its adjusted net income guidance for 2026. Germany is considering a sale or initial public offering for its 99% stake in Uniper, with Equinor, Brookfield Asset Management, EPH, and Taqa reportedly expressing interest. Uniper was nationalized in 2022 at a cost of about $53 billion after the loss of Russian gas supplies pushed it to the brink of collapse.

Canada has signed a binding agreement for Ksi Lisims LNG to supply Germany's Uniper SE with two million tonnes per annum of liquefied natural gas for up to 20 years, with first deliveries expected in 2032. The deal, announced by Minister Jill McKnight on behalf of Energy Minister Tim Hodgson, marks the first-of-its-kind binding contract between the Nisga'a Nation-led project and a European buyer, following a landmark first Canada–Europe LNG letter of interest reached in May 2026 for a potential 20-year agreement with Germany's SEFE for one million tonnes per year. Together, these agreements mean that a quarter of Ksi Lisims' total planned capacity of 12 million tonnes per annum is now committed to European allies. The $30-billion floating LNG facility in British Columbia is expected to become Canada's second-largest LNG terminal, contribute $15 billion to Canada's GDP, and operate with emissions 94 percent below the global average.

Uniper has appointed SLB Capturi as the preferred technology licensor for carbon capture at its proposed Connah's Quay Low Carbon Power project in Deeside, UK. The decision follows a competitive front-end engineering and design process that began in December 2024. The project will use SLB Capturi's Big Catch amine-based carbon capture technology, configured for flexible operation alongside gas turbines to handle fluctuating electricity demand. If the project reaches a final investment decision and subsequent contract awards, it would mark SLB Capturi's first major deployment in large-scale gas-fired power generation. The facility, targeting up to 1.38 gigawatts of generating capacity in two phases, would pipe captured CO₂ to the HyNet industrial cluster for permanent offshore storage, with an initial phase potentially operational from 2030.