DONG Energy sells the gas storage facility in Lille Torup to Energinet.dk
In connection with the European Commission's clearance of the merger of the energy companies DONG, Energi E2, Elsam, Nesa, Frederiksberg Forsyning and Copenhagen Energy (electricity activities), the gas storage facility in Lille Torup in Jutland was put up for sale. DONG Energy has now decided to sell the gas storage facility to Energinet.dk.
The transaction will take place May 1 2007.
The gas storage activities have been sold for a price of DKK 2.0 billion. A possible further payment has been agreed based on the value of these activities after 2030. "We are pleased that we have now met the European Commission's requirement concerning divestment of a gas storage facility. As we are retaining the gas storage facility in Stenlille, we will now be two independent storage suppliers in Denmark", says Anders Eldrup, CEO of DONG Energy.
The accounting gain on the sale is expected to amount to approx. DKK 1.0 billion after tax, which will be recognised as income in May 2007. The sale consequently does not affect the 2006 outlook.
Completion of the transactional is conditional upon clearance by the EU Commission.
For further information, contact:
Louise Münter - +45 4517 1545 / +45 6155 8771
Michael Steen-Knudsen - +45 4517 1556 / +45 6161 8656