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Shell will not pursue development of Linnorm gas field in Norway

·1-min read
FILE PHOTO: FILE PHOTO: The Royal Dutch Shell logo is seen at a Shell petrol station in London

LONDON (Reuters) - Shell said on Thursday it would not continue with its plans to develop the Linnorm discovery in the Norwegian North Sea as a standalone gas field.

"After discussions between the partners, the Linnorm Licence will not continue to further mature a standalone development concept," Shell told Reuters in a statement. "The partners in the licence will now evaluate alternative ways forward."

The field was discovered in 2005 holds an estimated 31.7 billion cubic metres of gas resources, according to the Norwegian Petroleum Directorate data base.

Shell operates and holds a 30% stake in the field, Norway's Petoro also holds 30% while Equinor and TotalEnergies each hold a 20% stake.

(Reporting by Ron Bousso and Nerijus Admaitis; Editing by Edmund Blair)

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