*

Adjusted pretax profit $7.53 bln vs poll $7.2 bln

*

European gas price halved in first quarter

*

Trading division profit $887 mln vs expected $592 mln

(Recasts, adds analyst, detail on earnings, market prices

throughout)

OSLO, April 25 (Reuters) - Equinor ( EQNR ) posted a

sharp fall in first-quarter profit on Thursday, hit by tumbling

natural gas prices in Europe, though strong energy trading and

rising output limited the decline.

The Norwegian oil and gas producer's adjusted earnings

before tax for January-March fell almost 37% to $7.53 billion

but beat the $7.2 billion forecast in a poll of 22 analysts

compiled by Equinor ( EQNR ).

"Production on the Norwegian continental shelf was high,and

the international portfolio contributed with solid production

growth," Equinor ( EQNR ) CEO Anders Opedal said in a statement.

The company overtook Russia's Gazprom as Europe's

biggest supplier of natural gas in 2022 when Moscow's invasion

of Ukraine upended decades-long energy ties.

The Dutch TTF front-month gas contract,

Europe's benchmark, averaged 27.51 euros per megawatt hour (MWh)

in the first quarter, down from 52.73 euros/MWh a year earlier,

reflecting a mild winter and well-filled storage sites.

"Equinor's ( EQNR ) operating income beat the market consensus due to

slightly higher output in the United States and strong results

from both liquids and LNG trading," RBC analyst Biraj

Borkhataria said in a note.

Equinor ( EQNR ) pumped 2.16 million barrels of oil equivalent per

day in the first quarter, in line with expectations in the

analyst poll, and maintained a projection that this year's oil

and gas output will remain flat against 2023.

International oil and gas output rose by 3% from a year

earlier, helped by last year's acquisition of Suncor Energy's ( SU )

British North Sea oil and gas assets and a 1% rise in domestic

production.

Equinor's ( EQNR ) Market, Midstream and Processing (MMP) division,

which includes its trading business, posted a profit of $887

million, down from $1.3 billion a year ago but ahead of a poll

forecast of $592 million.

The MMP result exceeded Equinor's ( EQNR ) guidance range of between

$400 million and $800 million, which the group said was thanks

to strong results from liquids and LNG trading.