Equinor Pulls Out of Japan’s Offshore Wind Market

AI Summary

Equinor is withdrawing from Japan's offshore wind market and closing its Tokyo office by year-end. The company is shifting its focus away from non-oil and gas ventures towards integrated power markets, while maintaining long-term investments in Japan.

Equinor is ending its offshore wind business activities in Japan and will close its Tokyo office by the end of the year as the Norwegian energy major is realigning its non-oil and gas strategy to focus on power markets. “This decision reflects a reassessment of Equinor’s strategic direction, with a strengthened focus on integrated power markets,” the Norwegian company said on Friday. While Equinor is ending its Japanese presence, Japan will remain an important country for Equinor, which will continue to invest in its longstanding…