Denmark Gas Markets, 2013

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Denmark Gas Markets, 2013
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Denmark Gas Markets, 2013

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Denmark. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the natural gas assets (gas fields, pipelines and underground gas storage facilities) in Denmark. The report compares the investment environment in Denmark with other countries in the region. The profiles of the major companies operating in the natural gas sector in Denmark together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 2000-2020.
- Historical and forecast data and information for all the major gas fields, gas pipelines and underground gas storage facilities in Denmark for the period 2005-2017.
- Operator and equity details for major natural gas assets in Denmark.
- Key information relating to market regulations, key energy assets and the key companies operating in the Denmark's energy industry.
- Information on the top companies in the Denmark including business description, strategic analysis, and financial information.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country's energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Assess your competitor's major natural gas assets and their performance.
- Analyze the latest news and financial deals in the gas sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country.

Table of Contents

1 Table of Contents 2
1.1 List of Tables 7
1.2 List of Figures 8
2 Denmark Energy Sector 9
2.1 Denmark Energy Sector, Market Overview 9
2.2 Denmark Energy Sector, Natural Gas 9
2.2.1 Denmark Natural Gas, Overview 9
2.2.2 Denmark Natural Gas, Supply and Demand Balance 10
2.2.3 Denmark Natural Gas, Regulatory Structure 15
2.2.4 Denmark Natural Gas, Infrastructure 15
3 Denmark Gas Upstream Investment Environment Benchmarking 16
3.1 Introduction 16
3.2 The Overall Ranking 16
3.3 Upstream Fiscal Attractiveness 16
3.3.1 Maximum Government Take Index 18
3.3.2 Fiscal Flexibility 18
3.3.3 Maximum State Participation 18
3.4 Gas Sector Performance 18
3.4.1 Exploration Activity 20
3.4.2 Gas Production 21
3.4.3 Gas Reserves 21
3.4.4 Gas Consumption 21
3.5 Economic Performance 22
3.5.1 GDP Growth Index 23
3.5.2 FDI Confidence Index 23
3.5.3 Balance of Trade Index 23
3.6 Socio-Political Performance 24
4 Denmark Exploration and Production Sector 26
4.1 Denmark Exploration and Production Sector, Country Snapshot 26
4.1.1 Denmark Exploration and Production Sector, Key Data 26
4.1.2 Denmark Exploration and Production Sector, Natural Gas Assets Map 26
4.1.3 Denmark Exploration and Production Sector, Marketed Natural Gas-Historical Production by Type 27
4.1.4 Denmark Exploration and Production Sector, Marketed Natural Gas Production by Assets 28
4.1.5 Denmark Exploration and Production Sector, Market Share based on Marketed Natural Gas Production 29
4.2 Denmark Exploration and Production Sector, Production Forecast 30
4.2.1 Denmark Exploration and Production Sector, Marketed Natural Gas Production Forecast 30
4.3 Denmark Exploration and Production Sector, Natural Gas Asset Details 31
4.3.1 Denmark Exploration and Production Sector, Active Natural Gas Asset Details 31
4.3.2 Denmark Exploration and Production Sector, Planned Natural Gas Asset Details 32
4.4 Denmark Exploration and Production Sector, Major Gas Discoveries 32
4.4.1 Denmark Exploration and Production Sector, Number of Gas Discoveries 32
4.4.2 Denmark Exploration and Production Sector, Gas Discovery Details 33
4.5 Denmark Exploration and Production Sector, Recent Discoveries 34
4.5.1 Mar 25, 2013: Wintershall Discovers Oil At 5504/1-3 Well Offshore Denmark 34
4.5.2 Nov 03, 2011: PA Resources Confirms Oil Discovery At Lille John Prospect In Denmark 34
4.5.3 Oct 17, 2011: PA Resources Discovers Oil At Lille John Prospect In License 12/06, Offshore Denmark 35

4.5.4 Aug 26, 2011: PA Resources Finds Hydrocarbons At Broder Tuck Prospect In License 12/06, Offshore Denmark 36
4.6 Denmark Exploration and Production Sector, Drilling and Production Updates 37
4.6.1 Jun 18, 2013: Maersk Oil Provides DUC Production Update For May 2013 37
4.6.2 May 29, 2013: Wintershall Noordzee Provides Update On Sparrow-1 Exploration Well In North Sea 37
4.6.3 May 22, 2013: Maersk Oil Provides DUC Production Update For April 2013 37
4.6.4 May 10, 2013: Noreco Produces 4,928boe In April 2013 37
4.6.5 Apr 30, 2013: Maersk Oil Provides DUC Production Update For March 2013 38
5 Denmark Pipeline Sector 39
5.1 Denmark Pipeline Sector, Key Data 39
5.2 Denmark Pipeline Sector, An Overview 39
5.3 Denmark Pipeline Sector, Comparison of Key Natural Gas Pipeline Companies 39
5.4 Denmark Pipeline Sector, Natural Gas Pipelines 41
6 Denmark Underground Gas Storage Sector 42
6.1 Denmark Underground Gas Storage Sector, Key Data 42
6.2 Denmark Underground Gas Storage Sector, An Overview 42
6.3 Denmark Underground Gas Storage Sector, Capacity Market Share by Company 42
6.4 Denmark Underground Gas Storage Sector, Storage Capacity by Area 43
6.5 Denmark Underground Gas Storage Sector, Storage Capacity 44
6.5.1 Denmark Underground Gas Storage Sector, Storage Capacity of Active Facilities 44
6.5.2 Denmark Underground Gas Storage Sector, Storage Capacity of Planned Terminals 44
7 Profile of Royal Dutch Shell plc 45
7.1 Royal Dutch Shell plc, Key Information 45
7.2 Royal Dutch Shell plc, Company Overview 45
7.3 Royal Dutch Shell plc, Business Description 46
7.3.1 Business Overview 46
7.3.2 Corporate 47
7.3.3 Downstream 47
7.3.4 Upstream 48
7.4 Royal Dutch Shell plc, SWOT Analysis 50
7.4.1 Overview 50
7.4.2 Royal Dutch Shell plc Strengths 50
7.4.3 Royal Dutch Shell plc Weaknesses 52
7.4.4 Royal Dutch Shell plc Opportunities 52
7.4.5 Royal Dutch Shell plc Threats 54
8 Profile of A.P. Moller - Maersk A/S 55
8.1 A.P. Moller - Maersk A/S, Key Information 55
8.2 A.P. Moller - Maersk A/S, Company Overview 55
8.3 A.P. Moller - Maersk A/S, Business Description 55
8.3.1 Business Overview 55
8.3.2 Container Activities 56

8.3.3 Oil and Gas Activities 57
8.3.4 Other Businesses 57
8.3.5 Retail Activity 58
8.3.6 Tankers, offshore and other shipping activities 58
8.3.7 Terminals Activities 59
8.4 A.P. Moller - Maersk A/S, SWOT Analysis 60
8.4.1 Overview 60
8.4.2 A.P. Moller - Maersk A/S Strengths 60
8.4.3 A.P. Moller - Maersk A/S Weaknesses 61
8.4.4 A.P. Moller - Maersk A/S Opportunities 62
8.4.5 A.P. Moller - Maersk A/S Threats 64
9 Profile of DONG Energy A/S 65
9.1 DONG Energy A/S, Key Information 65
9.2 DONG Energy A/S, Company Overview 65
9.3 DONG Energy A/S, Business Description 65
9.3.1 Business Overview 65
9.3.2 Energy Markets 66
9.3.3 Exploration and Production 67
9.3.4 Sales and Distribution 67
9.3.5 Thermal Power 68
9.3.6 Wind Power 69
9.4 DONG Energy A/S, SWOT Analysis 70
9.4.1 Overview 70
9.4.2 DONG Energy A/S Strengths 70
9.4.3 DONG Energy A/S Weaknesses 71
9.4.4 DONG Energy A/S Opportunities 72
9.4.5 DONG Energy A/S Threats 73
10 Financial Deals Landscape 75
10.1 Detailed Deal Summary 75
10.1.1 Acquisition 75
10.1.2 Debt Offerings 78
10.1.3 Asset Transactions 85
11 Recent Developments 97
11.1 License Rounds 97
11.1.1 May 08, 2013: DEA Receives Open Door Application For Hydrocarbons Exploration And Production In Southern Jutland 97
11.2 License Awards 97
11.2.1 Jun 17, 2013: New World Oil and Gas Wins Extension For Danica Jutland Licenses In Denmark 97
11.2.2 May 01, 2013: NikOil Awarded Offshore License 01-13 In Danish North Sea 98
11.3 Strategy and Business Expansion 98
11.3.1 May 23, 2013: GAC And Polog Sign Strategic Partnership Agreement 98
11.3.2 Apr 19, 2013: New World Oil and Gas Provides Denmark Operations Update 99
11.3.3 Apr 19, 2013: Nordsofonden Completes Altkul Project In Denmark 100
11.3.4 Apr 17, 2013: Maersk Oil Provides Environmental Report On Danish Oil And Gas Activities 100

11.3.5 Apr 08, 2013: Nord Stream Reports Extension Project Information Document 100
11.3.6 Apr 05, 2013: DUC To Invest US$800 Milllion In Field Extension: Maersk Oil 101
11.4 New Contracts Announcements 102
11.4.1 Apr 15, 2013: Wartsila Wins Contract From Evergas To Supply Integrated Solutions For LNG Carriers 102
11.4.2 Aug 10, 2012: Keppel FELS Wins Two Contracts From Petrobras-led Consortiums, Guara And Tupi For FPSO Vessel 103
12 Appendix 104
12.1 Abbreviations 104
12.2 Methodology 104
12.2.1 Coverage 104
12.2.2 Secondary Research 105
12.2.3 Primary Research 105
12.3 Contact Us 105
12.4 Disclaimer 106

List of Tables

Table 1: Denmark, Historical and Forecast Production and Consumption of Natural Gas, bcf, 2000-2020 10
Table 2: Denmark, Historical and Forecast Exports of Natural Gas, bcf, 2000-2020 12
Table 3: Denmark, Historical Reserves of Natural Gas, tcf, 2000-2012 14
Table 4: Western Europe, Investment Benchmarking, Overall Country Rankings, Jul 2013 16
Table 5: Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, Jul 2013 17
Table 6: Western Europe, Investment Benchmarking, Gas Sector Performance, Jul 2013 18
Table 7: Western Europe, Investment Benchmarking, Economic Performance, Jul 2013 22
Table 8: Western Europe, Country Standings, Economic Performance, by GDP Growth - FDI Confidence and Production Indices, Jul 2013 22
Table 9: Western Europe, Investment Benchmarking, Socio-Political Performance, Jul 2013 24
Table 10: Western Europe, Country Standings, Socio-Political Performance by Exploration Growth- FDI Confidence and Governance Indices, Jul 2013 24
Table 11: Denmark, Natural Gas Key Statistics, 2013 26
Table 12: Denmark, Marketed Natural Gas Production by Type (%), 2003-2012 27
Table 13: Denmark, Marketed Natural Gas Production (mmcf), by Assets, 2003-2012 28
Table 14: Denmark, Market Share (%) of Key Companies based on Marketed Natural Gas Production, 2003-2012 29
Table 15: Denmark, Marketed Natural Gas Production (mmcf), Forecast by Assets, 2013- 2017 30
Table 16: Denmark, Active Gas Field Asset Details 31
Table 17: Denmark, Planned Gas Field Asset Details 32
Table 18: Denmark, Number of Gas Discoveries, 2007-2012 32
Table 19: Denmark, Gas Discovery Details, 2007-2012 33
Table 20: Denmark, Pipeline Key Statistics, Jul 2013 39
Table 21: Denmark, Natural Gas Pipeline Length by Company (Km), Jul 2013 39
Table 22: Denmark, Natural Gas Pipelines, Jul 2013 41
Table 23: Denmark, Underground Gas Storage Key Statistics, Jul 2013 42
Table 24: Denmark, Underground Gas Storage Capacity (mmcf) by Company, Jul 2013 42
Table 25: Denmark, Underground Working Gas Capacity by Area (mmcf), Jul 2013 44
Table 26: Denmark, Active Underground Gas Storage Capacity (mmcf) by Asset, Jul 2013 44
Table 27: Denmark, Planned Underground Gas Storage Capacity (mmcf), Jul 2013 44
Table 28: Royal Dutch Shell plc, Key Facts 45
Table 29: Royal Dutch Shell plc, SWOT Analysis 50
Table 30: A.P. Moller - Maersk A/S, Key Facts 55
Table 31: A.P. Moller - Maersk A/S, SWOT Analysis 60
Table 32: DONG Energy A/S, Key Facts 65
Table 33: DONG Energy A/S, SWOT Analysis 70

Table 34: Nordsofonden Completes Acquisition Of 20% Stake In Danish Underground Consortium From A.P. Moller - Maersk, Shell And Chevron 75
Table 35: Malt LNG Completes Acquisition Of Maersk LNG From A.P. Moller For US$1.33 Billion 76
Table 36: A.P. Moller – Maersk Completes Public Offering Of 4% Bonds Due 2025 For US$456.4 Million 78
Table 37: Dong Energy Completes Public Offering Of 2.625% Bonds Due 2022 For US$961 Million 79
Table 38: A.P.Maersk – Moller Completes Public Offering Of 3.375% Bonds Due 2019 For US$925 Million 80
Table 39: A.P. Moller-Maersk Completes Private Placement Of Bonds Due 2017 For US$521.6 Million 81
Table 40: DONG Energy Competes Public Offering Of 4.875% Bonds Due 2032 For US$1.17 Billion 82
Table 41: A.P. Moller Postpones Public Offering Of Bonds 83
Table 42: DONG Energy Completes Public Offering Of Hybrid Capital Bonds Due 3010 For US$911.4 Million 84
Table 43: Nordic Energy Plans To Acquire Exploration License In Danish North Sea 85
Table 44: Talisman Energy Plans To Sell Oil And Gas Assets 86
Table 45: Qatar Shipping Company To Acquire Additional 15% Stake In Two LNG Carriers From Maersk 87
Table 46: New World Oil and Gas Completes Acquisition Of 12.5% Stake In License No. 1/08 In Denmark From Danica Resources 88
Table 47: New World Oil and Gas Completes Acquisition Of 25% Working Interest In License 1/08 Of Danica Resources Project In Denmark From Danica Resources 89
Table 48: New World Oil Completes Acquisition Of Additional 12.5% Interest In Oil Licenses 1/09 And 2/09 In Denmark From Danica Jutland 90
Table 49: Hess Denmark, DONG Energy And Danoil Exploration Complete Acquisition Of 6.56% Stake In South Arne Oil Field In Denmark From Noreco For US$200 million (MM) 91
Table 50: DONG Energy Completes Acquisition Of 50% Interest In Siri Field From Noreco For US$13.5 Million 93
Table 51: New World Oil Completes Acquisition Of 12.5% Working Interest In Licenses 1/09 And 2/09 In Denmark From Danica Jutland 94
Table 52: Shell And Maersk To Farm-Out Up To 60% Interest In Elly And Luke Development Project In Denmark 95

List of Figures

Figure 1: Denmark, Primary Energy Consumption Split by Fuel Type (%), 2012 9
Figure 2: Denmark, Historical and Forecast Production and Consumption of Natural Gas, bcf, 2000-2020 11
Figure 3: Denmark, Historical and Forecast Exports of Natural Gas bcf, 2000-2020 13
Figure 4: Denmark, Historical Reserves of Natural Gas, tcf, 2000-2012 14
Figure 5: Western Europe, Country Standings, Upstream Fiscal Attractiveness, Jul 2013 17
Figure 6: Western Europe, Country Standings, Gas Sector Performance, by Reserves-Exploration & Production, Jul 2013 19
Figure 7: Western Europe, Country Standings, Gas Sector Performance by Production & Consumption, Jul 2013 20
Figure 8: Western Europe, Country Standings, Number of Exploration Blocks Awarded, 2008 - 2012 21
Figure 9: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, Jul 2013 23
Figure 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth-FDI Confidence and Governance Indices, Jul 2013 25
Figure 11: Denmark, Natural Gas Assets Map, Jul 2013 26
Figure 12: Denmark, Marketed Natural Gas Production by Type (%), 2003-2012 27
Figure 13: Denmark, Market Share (%) of Key Companies based on Marketed Natural Gas Production, 2012 29
Figure 14: Denmark, Number of Gas Discoveries, 2007-2012 33
Figure 15: Denmark, Natural Gas Pipeline Length by Company (Km), Jul 2013 40
Figure 16: Denmark, Underground Gas Storage Market Share (%) by Company, Jul 2013 43
Figure 17: Denmark, Underground Working Gas Capacity by Area (%), Jul 2013 43