DONG Energy
From Wikipedia, the free encyclopedia
| DONG Energy | |
|---|---|
 |
|
| Type | Public |
| Founded | 2006 |
| Headquarters | Copenhagen, Denmark |
| Key people | Anders Eldrup (CEO) Fritz H. Schur (Chairman) |
| Industry | Energy |
| Products | Power production Oil and gas exploration and production Electricity and gas distribution Renewable energy Others |
| Revenue | 41.625 billion DKK (2007, [1] |
| Net income | ▲ 3.259 billion DKK [2] |
| Employees | 5,127[3] |
| Website | http://www.dongenergy.com |
DONG Energy is Denmark's leading energy company.
Contents |
[edit] 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 expand into the electricity market by acquisition of stakes 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.
[edit] Shareholders
The majority (73%) of DONG Energy is owned by the Danish Government. The rest of the shares are owned by former Elsam (16%) and Energi E2 (11%) 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]
[edit] Activities
[edit] 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 the Shetlands 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 is quite adept at laying pipe. 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 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.
[edit] Power production
DONG Energy is the biggest power producer in Denmark with market shares of 49% on electricity production and 35% on heat production. It owns power production facilities and projects also 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.[5] In Norway DONG Energy has invested into hydro and wind power.[6]
[edit] FTTH
DONG Energy is providing FTTH to the customers in northern Sealand. It is offered to the customers as the airborn powergrid is grounded.
[edit] Markets
DONG Energy considers Denmark, Sweden, The Netherlands and Germany as core markets of corporation.
[edit] 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.[7]
[edit] References
- ^ 5 year review
- ^ 5 year review
- ^ Fast Facts
- ^ omx feed list details
- ^ "DONG Energy Invests in UK Offshore Wind Farms", Oil Voice, 2007-12-03. Retrieved on 2007-12-16.
- ^ "DONG Energy Increases Stake in Norwegian Hydropower", Oil Voice, 2007-12-07. Retrieved on 2007-12-16.
- ^ Metro - Dansk elbilspark ska tankas med vindkraft
