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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Equinor ASA    EQNR   NO0010096985

EQUINOR ASA

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Equinor : power and gas trading unit expands to the United States

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08/15/2019 | 12:17am EDT

Danske Commodities, a power and gas trading firm owned by oil major Equinor (EQNR.OL), has expanded its operations to the United States, completing its first trade on the PJM wholesale power market, it said.

The trade, which Danske Commodities called a milestone, extended the company's reach to 39 countries and was part of a strategy to expand globally, adding to the European and Australian markets that the firm is currently active in.

"The price drivers are very similar to those in our current core markets, and that also applies to risk and return characteristics, so there is a good fit with our business model and capabilities," Danske's Chief Executive Helle Oestergaard Kristiansen said.

The firm did not disclose the size of the initial trade.

Danske has taken over Equinor's third-party gas trading, downstream gas storage positions and power trading activities including certificates trading as well as balancing and optimization of Equinor's growing portfolio of renewable assets.

PJM is the largest wholesale power market in the United States and is covering 13 states in the Eastern Interconnection, Danske added.

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

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Financials (NOK)
Sales 2019 70 924 M
EBIT 2019 15 363 M
Net income 2019 5 812 M
Debt 2019 15 553 M
Yield 2019 0,70%
P/E ratio 2019 87,7x
P/E ratio 2020 73,8x
EV / Sales2019 7,21x
EV / Sales2020 6,39x
Capitalization 496 B
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Number of Analysts 28
Average target price 23,42  NOK
Last Close Price 148,70  NOK
Spread / Highest target -79,8%
Spread / Average Target -84,2%
Spread / Lowest Target -88,1%
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NameTitle
Eldar Sætre President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer & Executive Vice President
Lars Christian Bacher Chief Financial Officer & Executive Vice President
Anders Opedal Executive VP-Technology, Projects & Drilling
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