Key Highlights
- BlueNord ASA received an invitation to explore extending the DUC license beyond 2042.
- The extension would align with BlueNord’s long-term objectives and support Danish energy security.
- Euan Shirlaw, CEO of BlueNord, expressed interest in extending the current license to 2050.
- BlueNord will announce its fourth quarter 2025 results on February 24, 2026.
The Battle for Danish Energy Independence
BlueNord ASA, a strategically important European oil and gas company, has received an invitation from the Danish government to explore extending the Danish Underground Consortium (DUC) license. This move comes at a crucial time when Denmark aims to secure its energy future beyond 2042, the current expiry date of the DUC.
The invitation is part of ongoing constructive dialogue between BlueNord and the Danish government, with both parties interested in extending the license to 2050. This extension would not only align with the 2020 North Sea Agreement but also support Denmark’s broader energy strategy. The company’s CEO, Euan Shirlaw, emphasized that an extension is vital for maximizing value from the DUC and ensuring continued contributions to Danish society.
Maximizing Value in the Danish Energy Market
“We welcome today’s announcement,” Shirlaw stated, “and look forward to continuing our dialogue with the Danish government on how BlueNord can continue to deliver vital oil and gas volumes to Denmark and the EU beyond 2042.” The CEO highlighted that an extension would provide a tangible contribution to reducing Europe’s dependence on imported energy.
According to Shirlaw, extending the DUC license is not just about maximizing value for shareholders but also for Danish society and the broader European energy market. He noted that Danish North Sea production has real strategic importance because it comes with a lower carbon footprint than imported LNG, significantly contributes to the Danish economy through state revenues and employment, and plays a direct role in safeguarding EU energy security.
BlueNord’s Long-Term Vision
The company’s long-standing objectives include maximizing value from the DUC while supporting future energy needs for Denmark and Europe. BlueNord is listed on the Oslo Stock Exchange and trades under the ticker “BNOR,” making it a key player in the European oil and gas sector.
BlueNord will announce its fourth quarter 2025 results on February 24, 2026. This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The company remains committed to its role in contributing to Danish and European energy security.
BlueNord’s response to this invitation underscores its importance as a key player in Denmark’s energy landscape. With an extension, BlueNord can continue to play a crucial role in ensuring that Denmark maintains control over its energy resources while also supporting the broader European market.
