Equinor ASA is a Norway‑based energy company combining oil and gas operations with offshore wind and utility‑scale battery storage. It invests in lithium material projects and recycling to support grid flexibility and a lower‑carbon energy mix.
Equinor ASA was founded in 1972 as Statoil by the Norwegian government and is headquartered in Stavanger, Norway. The company employs about 20,500 people and operates across more than 30 countries. Equinor’s main business spans oil and natural gas exploration and production, downstream refining and trading, and an expanding portfolio of renewables and low‑carbon solutions. Its stated mission is to deliver energy reliably today while developing scalable, lower‑carbon solutions for the future, with a commitment to net zero emissions by 2050.
Equinor positions itself as a systems integrator in utility‑scale battery energy storage systems (BESS), developing, owning and operating grid‑scale projects to provide flexibility, frequency services and renewable firming. The company combines BESS with offshore wind, solar and flexible gas assets via an integrated power business to support grid stability and merchant trading. Equinor also invests in next‑generation battery materials and processes, including lithium production technology and recycling partnerships, aiming to improve energy density, safety and lifecycle emissions compared with conventional supply chains.
Equinor’s product set includes upstream oil and gas production, downstream refining and trading services, and an expanding range of renewable and low‑carbon solutions: offshore wind developments, utility‑scale BESS deployments, hydrogen and carbon capture initiatives. Its storage assets support grid operators, power traders and large energy consumers such as data centers, while renewables and low‑carbon projects target decarbonization across power and industrial sectors.
Recent projects in 2025 include the Eco Liberty vessel christening planned for June 2025 and the Sunset Ridge Energy Center (10 MW/20 MWh) in Texas, operational in 2025 and commercialized via Equinor’s trading arm. The Snøhvit Future project experienced delays and an approximate NOK 4 billion cost increase reported since 2024. Equinor also suspended certain activities on the US Outer Continental Shelf linked to Empire Offshore Wind LLC amid national security concerns.
Majority ownership is held by the Norwegian state (about 67–74%) with the Government Pension Fund Norway holding around 3.3–4.4%; institutional investors represent roughly 26.2%, including global asset managers such as Wellington Management, Vanguard and BlackRock. Equinor invests through corporate venture and project stakes, including a 45% stake in a lithium materials consortium and venture investments in battery recycling technology, and participates in projects supported by public grants.
