Multiconsult signs call-off options for the electrification of Hammerfest LNG

Multiconsult ASA's (Oslo: MULTI) fully owned subsidiary Multiconsult Norge AS has signed call-off option with Equinor for the grid connection providing electrification of Hammerfest LNG (HLNG) as part of the Snøhvit Future project. The call-off includes management assistance and follow-on engineering for the construction and commissioning phase of the project. The contract value to Multiconsult is estimated to NOK 190 million. The project will commence immediately and is scheduled to be completed in 2028.

Multiconsult has earlier been awarded the detail engineering contract for the grid connection, with option for this phase of work, reference is made to stock exchange announcement of 17 February 2023. This contract has involved detailed multidisciplinary engineering of the grid connection from the substation on Hyggevatn via a tunnel to Meland and subsea cables to Melkøya where HLNG is located.

About Snøhvit Future
The project includes land compression and electrification of HLNG, strengthening Norway’s position as a reliable long-term supplier of gas produced with very low greenhouse gas emissions. The current gas turbine generators will be replaced by power from shore, reducing CO₂ emissions by 850 000 tonnes annually. The project will secure jobs in the Hammerfest region and energy supply to Europe.

For further information, please contact:
Investor relations:
   Pål-Sverre Jørgensen, Group Treasurer & Investor Relations Officer
   Phone: +47 416 11 161
   E-mail: ir@Multiconsult.no / psmj@multiconsult.no

Media:
   Cato A. Mørk, Senior Communications Advisor
   Phone: +47 924 55 663
   E-mail: caam@multiconsult.no