Equinor ASA said Thursday it is splitting marketing, midstream and processing (MMP) into two reporting segments, combining marketing and trading into one.
This is part of an ongoing broader reorganization that already saw the creation of a reporting segment consolidating the Norwegian majority state-owned company’s power activities.
As of last year MMP encompassed Equinor’s processing, refining, marketing and trading activities spanning oil, gas and power.
The new trading and marketing segment will “capture value across different products, supported by innovative digital solutions”, Equinor said in an online statement Thursday.
Equinor trades gas and power through Aarhus, Denmark-based Danske Commodities A/S.
“We have identified a clear value potential we can deliver through strengthening our trading business”, Equinor chief executive Anders Opedal said in Thursday’s statement.
“This part of our business also ties together all our production and products, and will ensure that market insights and future customer demand will more actively drive strategy, portfolio decisions and business models for Equinor”.
Current MMP executive vice president Irene Rummelhoff will lead the trading and marketing segment.
The other new segment – midstream, processing and infrastructure – “will be responsible for the onshore refinery, operated terminals, pipelines, storages and processing plants”, Equinor said. The company plans “closer collaboration” between this segment and the exploration and production (E&P) Norway segment.
Midstream, processing and infrastructure will be led by Geir Sørtvedt.
“The separation into two business areas enables a closer integration between strategy, operating model and organizational setup, with clearer accountability and better use of assets, insights, data and capabilities across Equinor”, Equinor said.
“A project is ongoing to further mature operating model and organizational structure. Potential changes to reporting segments or other impact will be assessed as part of the project. The ambition is to have a final solution ready before summer, with the new organization to be operational in early 2027”.
Last year MMP generated $1.7 billion in net operating income. Liquid sales totaled 1.11 billion barrels, up 10 percent from 2024, while gas sales totaled 67.4 billion cubic meters (2.38 trillion cubic feet), up 6 percent, according to Equinor’s annual report.
“In total, MMP markets, trades and transports around 70 percent of all Norwegian gas exports and 60 percent of all liquids exports”, the report said. “This comprises Equinor’s own products, the Norwegian state’s direct financial interest equity production and third-party volumes”.
“All of Equinor’s gas produced on the NCS [Norwegian continental shelf] is sold by MMP and purchased from E&P Norway at the fields’ lifting point at a market-based internal price, with a deduction for the cost of bringing the gas from the field to the market and a marketing fee”.
Last year Equinor announced the creation of a reporting segment for power, which combines the renewables segment and MMP’s flexible power assets.
“Power demand continues to grow from electrification of society and industry, expansion of artificial intelligence and data centers”, Equinor said in an online statement April 10, 2025 announcing the power segment. “Equinor has built a significant renewables business over the last two decades, with offshore and onshore wind and solar in operation and under development.
“The company has added gas-to-power plants and energy storage assets to support intermittent wind and solar. Through strong trading capabilities, the combined offering supports higher value creation.
“To strengthen competitiveness and position for further valuable growth in the power markets, Equinor integrates these portfolios in a new business area”.
To contact the author, email jov.onsat@rigzone.com
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