DONG
 |
|
| State | |
| Traded as | Nasdaq Copenhagen: DENERG |
| Industry |
Oil and gas Electricity generation |
| Predecessor | Dansk Naturgas A/S Elsam Energi E2 NESA Københavns Energi Frederiksberg Forsyning |
| Founded | 2006 |
| Headquarters | Fredericia, Denmark |
|
Key people
|
Henrik Poulsen (CEO) Thomas Thune Andersen (Chairman) |
| Products |
Natural gas Oil Electricity |
| Services | Gas distribution, Oil and Gas exploration and drilling |
| Revenue | 54.598 billion DKK (2010) |
 18.5 billion DKK (2015) |
|
 (12.1) billion DKK (loss) (2015) |
|
|
Number of employees
|
6,700 (2015) |
| Website | www |
 Map of DONG activities
|
DONG Energy (formerly Dansk Naturgas and Dansk Olie og Naturgas, abbreviated DONG) is an integrated energy company based in Fredericia, Denmark. It is the largest energy company in Denmark.
The Danish state-owned company Dansk Naturgas A/S was founded in 1972 to manage gas and oil resources in the Danish sector of the North Sea. After some years, the company was renamed to Dansk Olie og Naturgas A/S (DONG), meaning Danish Oil and Natural Gas. At the beginning of the decade of the 2000s, DONG started to expand itself into the electricity market by taking long positions 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 European Commission on 14 March 2006.
In 2007, DONG Energy entered into the Dutch market. In 2010, it started a cooperation with . However, in 2014 DONG Energy withdrew its consumer activities from the Dutch market. In 2010, DONG divested Norwegian power companies Salten and Nordkraft. In September 2013, DONG sold a power cable accessing the London Array wind farm to its partners, E.ON and Masdar for around $728 million.
As part of a restructuring plan, in January 2014 DONG sold an 18% stake to New Energy Investment S.a.r.l., a subsidiary of Goldman Sachs, while Danish pension funds, ATP and PFA Pension acquired 4.9% and 1.8% accordingly. The deal was heavily criticised and caused a split of the ruling coalition of Helle Thorning-Schmidt. Six cabinet ministers and the Socialist People's Party withdrew from the government. On 9 June 2016, some of these shares were sold in an IPO at .
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