EnergyWatch

Equinor: Danske Commodities is key to growth in renewable energy

The Norwegian oil major lacks important competencies in energy trading, which it needs in order to succeed in its strategy as a big investor in offshore wind as well as other types of renewable energy. That is one reason why the company has just spent EUR 403 million acquiring Danish trader Danske Commodities.

Photo: /ritzau/Mikkel Berg Pedersen

A payment of EUR 403 million may be a mere drop in the ocean for Norwegian oil giant Equinor, which on Friday purchased Danish energy trader Danske Commodities (DC). However, according to Equinor, the transaction will hardly be insignificant for the oil group.

Senior VP for Equinor's marketing and supply division Tor Martin Anfinnse says in an interview with EnergyWatch that the group's acquisition of DC was premised on the company's strategy for becoming a big player within renewable energy.

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