en.Wedoany.com Reported - Equinor is terminating its offshore wind business in Japan and will close its Tokyo office by the end of the year. The Norwegian energy giant is adjusting its non-oil and gas strategy, focusing its business on the power market.

In a statement, the Norwegian energy giant said the decision reflects a reassessment of its strategic direction, reinforcing its focus on the integrated power market. Although it will end operations in Japan, the country will remain important for Equinor, and the company will continue to invest in long-term partnerships with Japanese companies in technology development, commodities, capital markets, and supply chain segments.

Equinor had ambitious offshore wind development plans in the late 2010s, entering Japan's offshore wind market in 2018. In 2020, it partnered with local companies Jera and J-Power to bid in Japan's offshore wind auctions. However, to date, Equinor has not won any leases in Japanese auctions.

Japan's offshore wind industry suffered a blow last year after Mitsubishi Corporation abandoned plans to develop three offshore wind projects amid unexpected market changes and increasing challenges. Mitsubishi Corporation stated that since being selected as the project operator in December 2021, the global commercial environment for offshore wind has changed significantly due to supply chain constraints, inflation, exchange rate fluctuations, and rising interest rates.

After exiting several markets including Spain, Portugal, and France, Equinor remains active in offshore wind markets in the UK, Poland, and Norway. At the Capital Markets Day 2026 earlier this month, Equinor stated that its power growth strategy will focus on specific markets and segments where integration with broader energy products can be achieved. Building a competitive integrated power business is a key pillar of Equinor's latest strategy, alongside maximizing Norwegian offshore oil and gas production, expanding international oil and gas operations, and creating additional value through trading and market optimization.

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