Full speed ahead for British Hydro venture

March 4, 2004, 13:30 CET

The top executives in partly Hydro-owned company HydroWingas Ltd. have been appointed, and during the course of the year, the company will have taken on between eight and ten employees. One its tasks will be to purchase gas from Ormen Lange, and it aims to gain a solid share of the British gas market.

“We have established HydroWingas with a view to winning important market positions in the British gas market,” says Olav Skalmeraas, senior vice president in Hydro. Skalmeraas is chairman of the new company’s board. HydroWingas, which is owned 50-50 by German Wingas and Hydro, is based in Twickenham and will become operative during the course of April.

The HydroWingas board has appointed Solveig Hinsch from Wingas as managing director, and Terje Totland from Hydro will be second in command.

In addition to the top management, HydroWingas has advertised vacancies for gas sellers and an operator, and the company is expected to take on between eight and ten employees during the course of the year.

Deliveries before the summer

HydroWingas has been established at a good time in relation to the pipeline Langeled, the first part of which will be ready for deliveries from Norway in October 2006, and in connection with production start for Ormen Lange in October 2007. 

With the pipelines Vesterled, Interconnector and later Langeled, the company will have a flexible infrastructure for gas deliveries to the UK, which will also give considerable delivery security.

The company will now start marketing its activities to major companies, gas power plants and wholesalers, and the first gas deliveries from HydroWingas will probably reach customers before the summer holidays.

The company will also sell gas from the two owners, Hydro and Wingas, and will purchase and sell on gas from other suppliers.