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DONG Energy divests Stenlille gas storage facility

Denmark’s state owned entity Energinet.dk is to acquire DONG Energy’s 100% ownership stake in DONG Storage for a total consideration of DKK2.25bn ($0.39bn) on a debt and cash free basis. Included in the price is a payment from Energinet.dk relating to an earn-out that was part of DONG Energy’s divestment of Lille Torup gas storage facility in 2007 to Energinet.dk. The Stenlille gas storage facility is the largest of two gas storage facilities in Denmark, with a working gas volume of 575mn cm, corresponding to 57% of the total Danish gas storage capacity.

News Item details


Journal title: Petroleum Review

Region: Europe

Countries: Denmark -

Subjects: Gas, Bulk storage