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Related parties | 12 Months Ended
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Dec. 31, 2021
Disclosure of related parties [abstract] |
Disclosure of related party [text block] | 25 Related parties Transactions with the Norwegian State The Norwegian State is the majority shareholder of Equinor and also holds major investments in other Norwegian companies. As of 31 December 2021, the Norwegian State had an ownership interest in Equinor of 67.0 % (excluding Folketrygdfondet, the Norwegian national insurance fund, of 3.7 %). This ownership structure means that Equinor participates in transactions with many parties that are under a common ownership structure and therefore meet the definition of a related party. The Minister of Trade, Industry and Fisheries took over the constitutional responsibility for following-up of the Norwegian State`s ownership in Equinor with effect from 1 July 2021. The responsibility for the Norwegian State`s shareholding in Equinor has been transferred from the Ministry of Petroleum and Energy to the Ministry of Trade and Industry on 1 January 2022. Total purchases of oil and natural gas liquids from the Norwegian State amounted to USD 9.572 billion, USD 5.108 billion and USD 7.505 billion in 2021, 2020 and 2019, respectively. Total purchases of natural gas regarding the Tjeldbergodden methanol plant from the Norwegian State amounted to USD 0.088 billion, USD 0.018 billion and USD 0.036 billion in 2021, 2020 and 2019, respectively. These purchases of oil and natural gas are recorded in Equinor ASA. In addition, Equinor ASA sells in its own name, but for the Norwegian State’s account and risk, the Norwegian State’s gas production. These transactions are presented net. For further information please see note 2 Significant accounting policies. The most significant items included in the line-item Payables to equity accounted associated companies and other related parties in note 22 Trade and other payables, are amounts payable to the Norwegian State for these purchases. The line-item Prepayments and Financial Receivables includes USD 0.435 billion which represent a gross receivable from the Norwegian state under the Marketing Instruction in relation to the state’s (SDFI) expected participation in the gas sales activities of a foreign subsidiary of Equinor. At year end 2020 the corresponding amount was USD 0.169 billion. In July 2021 Equinor launched the first tranche of around USD 300 million of the new share buy-back programme, for 2021, totaling USD 600 million. For more details, please see note 18 Shareholder`s equity and dividends. Other transactions In relation to it ordinary business operations Equinor enters into contracts such as pipeline transport, gas storage and processing of petroleum products, with companies in which Equinor has ownership interests. Such transactions are included within the applicable captions in the Consolidated statement of income. Gassled and certain other infrastructure assets are operated by Gassco AS, which is an entity under common control by the Norwegian Ministry of Petroleum and Energy. Gassco’s activities are performed on behalf of and for the risk and reward of pipeline and terminal owners, and capacity payments flow through Gassco to the respective owners. Equinor payments that flowed through Gassco in this respect amounted to USD 1.030 billion, USD 0.896 billion and USD 1.076 billion in 2021, 2020 and 2019, respectively. These payments are mainly recorded in Equinor ASA. The stated amounts represent Equinor’s capacity payment net of Equinor’s own ownership interests in Gassco operated infrastructure. In addition, Equinor ASA manages, in its own name, but for the Norwegian State’s account and risk, the Norwegian State’s share of the Gassco costs. These transactions are presented net. Equinor has had transactions with other associated companies and joint ventures in relation to its ordinary business operations, for which amounts have not been disclosed due to materiality. Equinor leases two office buildings, located in Bergen and Harstad, owned by Equinor’s pension fund (“Equinor Pensjon”). The lease contracts extend to the years 2034 and 2037 and Equinor ASA has recognised lease liabilities of USD 284 million related to these contracts. Related party transactions with management are presented in note 7 Remuneration .

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