Multiconsult

Business and Financial Review • Mar 1, 2024

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

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 CO\2\ 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