Equinor completes acquisition of Danske Commodities

01.02.2019

 

All power trading transferred to Danske Commodities including balancing and optimisation of Equinor's growing portfolio in renewables.

Danske Commodities announced today that Equinor had completed the acquisition of the Aarhus-based power and gas trader for EUR 400 million, with smaller contingent payments depending on Danske Commodities’ performance over the next couple of years.

The acquisition combines Danske Commodities’ leading market presence and expertise in energy trading with Equinor’s leading position in oil and gas, growing portfolio in renewables and strong balance sheet.

With deal close, Equinor will transfer all power and certificates trading activities to Aarhus to take advantage of Danske Commodities’ highly scalable platform. The transfer of power trading covers all activities across the entire value chain, including balancing and optimisation of Equinor's growing renewable portfolio. Gas trading will continue through Equinor’s team in London and in Aarhus with Danske Commodities.

“This is an exciting new chapter for both companies,” said Danske Commodities CEO and founder Henrik Lind. “Together, we see immediate opportunities to support Equinor’s renewables portfolio, grow trading capacity and build flexibility in both power and gas – and this is just the beginning.”

“We are delighted to welcome Danske Commodities to Equinor as we take another step in our journey towards becoming a broad energy company,” said Tor Martin Anfinnsen, Senior Vice President, Marketing & Trading in Equinor. “We are excited to work with Danske Commodities’ people, trading platform, and geographic footprint to expand our renewables business and achieve significant scale in power and gas trading.”

As a wholly-owned subsidiary of Equinor, Danske Commodities will continue to operate under its own name and brand while increasingly collaborating across relevant commercial and operational activities with Equinor.

WHO IS DANSKE COMMODITIES

Danske Commodities is an energy trading company that specialises in short-term power and gas trading and offers balancing, optimisation and hedging services to energy producers and suppliers. Every day, the company completes more than 3500 trades across 37 countries in Europe, constantly moving energy from where there is more than needed to where it is needed most. Danske Commodities is a wholly-owned subsidiary to Norwegian energy company Equinor, operating under its own name and brand.

WHO IS EQUINOR

As a global energy provider, Equinor develops oil, gas and new energy solutions for today and tomorrow, turning natural resources into energy for people and progress for society. Equinor has more than 40 years of experience developing oil and gas on the Norwegian Continental shelf and now operate in more than 30 countries. The company is headquartered in Stavanger, Norway, listed on the New York and Oslo stock exchanges and employs approximately 22,000 people worldwide.

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Mads Schmidt Christensen Danske Commodities

MADS SCHMIDT CHRISTENSEN
Director, Head of Strategy & Communications

For more information please contact Mads Schmidt Christensen.

CONTACT

Direct contact information:

Mads Schmidt Christensen

T: +45 2794 2249

E: msc@danskecommodities.com

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