Equinor Outlines Fourth Quarter Gas Derivatives Loss of Up to $1.5 Billion

Equinor's gas sales are mostly spot based, but a share of its long term piped gas contracts are based on longer-dated indices.

Reuters

Equinor will book a loss from gas derivatives of between $1.4 billion and $1.5 billion for the final quarter of 2021, in line with previous statements that some third-quarter profits would be reversed, the energy company said on Jan. 11.

Norway's largest company on Oct. 27 reported a surge in July-September earnings, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring.

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