DONG Energy

DONG Energy
DONG Energy
Type Private
Industry Energy
Founded 2006
Headquarters Fredericia,[1] Denmark
Key people Anders Eldrup (CEO)
Fritz H. Schur (Chairman)
Products Electricity generation
Oil and gas exploration and production
Electricity and gas distribution
Renewable energy
Others
Revenue 60.777 billion DKK (2008) [2]
Net income increase 4.815 billion DKK (2008) [2]
Employees 5,347[3]
Website http://www.dongenergy.com

DONG Energy is Denmark's leading energy company.

Contents

History

The Danish state company Dansk Naturgas A/S was founded in 1972 to manage resources in the Danish sector of the North Sea. After some years, the company was renamed to Dansk Olie og Naturgas A/S (DONG). At the beginning of 2000s, DONG started to extend itself into the electricity market by taking long positions in electricity companies. In 2005, DONG acquired and merged Danish electrical power producers Elsam and Energi E2 and public utility (electricity distribution) companies NESA, Københavns Energi and Frederiksberg Forsyning. The result of the merger was the creation of DONG Energy. The merger was approved by the EU commission on 14 March 2006.

Shareholders

The majority (75%) of DONG Energy is owned by the Danish Government. The rest of the shares are owned by SEAS-NVE (11%), Syd Energi (9%)and (5%) owned by smaller shareholders. According to a political agreement, the Danish Government shall maintain a majority in the company until 2025. Reduction of the ownership below 50% requires political agreement of Danish parties. An IPO and listing at the Copenhagen Stock Exchange was expected in the spring of 2008, but was suspended due to the situation of the international financial markets. An IPO is still the plan, but the timeline is currently unknown.[4]

Activities

Oil and gas exploration and production

DONG's primary focus is deep drilling. DONG Energy's core areas of oil and gas exploration and production lay in southern part of the Norwegian North Sea and the Danish part of the North Sea, west of Shetland and in the Faroes and in the mid Norway (gas production). The reserve base is expected to be 359 million boe. In 2005, DONG Energy acquired 10.34% in the Ormen Lange gas field (operated by Shell). The share of gas reserves allocated to DONG Energy are approximately 40 billion cubic meter (bcm).

DONG Energy owns gas pipelines from the Danish part of the North Sea to Nybro and the Swedish gas transmission network (Nova Naturgas). DONG Energy co-owns the NOGAT and Tyra West – F3 pipeline pipelines, which create a link from the North Sea Danish section to the Netherlands natural gas hub in Den Helder, the DEUDAN pipeline from Jutland to north of Hamburg in Germany, and the Langeled pipeline from Nyhamna terminal in Norway to Easington in the UK. DONG Energy owns a share of the Norwegian gas pipeline system. It is also party to the Baltic Gas Interconnector.

Dong Energy has submitted a binding tender to the Danish Energy Agency for the concession to build a 400MW offshore wind farm off the Danish island of Anholt in the Kattegat. If the concession is awarded to Dong Energy, the total investment is expected to represent up to DKK10bn.[5]

Power production

DONG Energy is the largest power producer in Denmark with market shares of 49% for electricity production and 35% for heat production. It also owns power production facilities and projects in Germany, Sweden, Norway and the United Kingdom. In the United Kingdom Dong Energy operates Barrow and Burbo Bank offshore windfarms and plans to construct Walney Island and Gunfleet Sands I and II wind farms.[6] In Norway DONG Energy has invested into hydro and wind power.[7]

In February 2010, DONG announced plans to build an 80,000sq m Biomass Power Station in the English port city of Kingston upon Hull which could potentially generate up to 300 megawatts of electricity.[8]

Carbon intensity

Year Production (TWh) Emission (Gt CO2) kg CO2/MWh
2002 16 6 375
2003 18 6.07 337
2004 18 4.95 280
2005 13 1.67 126
2006 18 4.73 264
2007 17 4.25 250
2008 22 2.92 131
2009 22 2.88 131

FTTH

DONG Energy provides FTTH to its customers in northern Zealand. It is offered to the customers as the airborn powergrid is grounded.

Markets

DONG Energy considers Denmark, Sweden, The Netherlands and Germany as core markets of corporation.

Other

DONG Energy is co-headsponsor for the Danish national football team.

DONG Energy has signed a deal with Project Better Place regarding the mass introduction of electric cars in Denmark.[9]

DONG owns 51% of offshore wind turbine installer A2SEA,[10] while Siemens owns the other 49%.[11] DONG also has 30% of subsea cabling installer CT Offshore[12]

DONG has divested Norwegian power companies Salten and Nordkraft.[13]

See also

References

External links


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