Norsk Hydro prepared to sell its 10% stake in the Snohvit field

Nov. 1, 2000 (M2 Communications)à‚–The Norwegian industrial group Norsk Hydro has said that it is prepared to sell its 10% stake in the Snohvit field off the Finnmark coast in Norway.

The Snohvit gas field is located far from the nearest pipelines and the development of the field requires further investment in LNG tankers. In an interview for the Norwegian newspaper Aftenposten Norsk Hydro’s spokesperson Anne Ekern said that the company did not consider LNG part of its core business.

Ekern said that Norsk Hydro would also consider an offer to exchange Snohvit for stakes elsewhere.

Norsk Hydro is also proposing to sell its shares in licenses on the Danish continental shelf.

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