KGEP Partners Decide to Terminate Kristin Gas Export Project

The Kristin gas export project (KGEP) partners made a decision to terminate the project due to unsustainable economics caused by increased investment costs and increased risk to volume availability.

The Kristin gas export project (KGEP) – a pipeline connection between the Kristin field and Polarled – was sanctioned by the KGEP partners (Statoil 53.4%, Petoro 35.6% and GdFS 11%) in conjunction with the Polarled project sanction late 2012.

Following the last year’s project development, the partners have decided to terminate the project based on unsustainable project economics. The drivers behind the decision are increased costs and volume risk.

KGEP represented less than 5% of the Polarled volumes and the termination does not influence the Polarled project execution. All relevant stakeholders have been informed about the KGEP partners’ decision to terminate the project.

“It is a necessary decision that has been taken by the KGEP partners. With the deteriorating project economics, we did not see grounds to continue the KGEP development,” says Polarled development project director Håkon Ivarjord.

KGEP included Kristin platform modifications and a 30-kilometre pipeline to tie into the Polarled pipeline. The opportunity for the future connection of the Kristin field to the Polarled pipeline is maintained as necessary connection points continue to be part of the project.

Press Release, January 09, 2014; Image: Statoil

 

Share this article

Follow Subsea World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >