Power trader Danske Commodities gets $3.7 billion capital injection from Equinor
Power trader Danske Commodities said on Wednesday it had increased its equity with a capital injection of 3.5 billion euros from its parent company Equinor to provide liquidity in volatile energy... |…
"High energy prices have increased the need for financial solidity and by maintaining a strong financial position, Danske Commodities is able to provide needed liquidity to a volatile energy market," the Denmark-based trading company said. "When supply does not match demand, and energy prices go up, we need an efficient market to cushion the price volatility," it added. Parent company Equinor has become Europe's largest supplier of natural gas after a sharp drop in pipeline volumes from Russia's Gazprom in the wake of Ukraine crisis.
($1 = 0.9425 euros) (Reporting by Stine Jacobsen, editing by Terje Solsvik)