BlueNord Invited to Consider Extending DUC License Until 2050

BlueNord Invited to Explore License Extension

In a significant development for both BlueNord ASA and the energy landscape of Denmark, the Danish Ministry of Climate, Energy and Utilities has announced that BlueNord, along with its partners in the Danish Underground Consortium (DUC), is invited to consider extending its exploration license beyond the current expiration date of 2042. This initiative reflects the Danish government's commitment towards bolstering energy security in Europe and supporting the country's future energy requirements.

BlueNord has proactively engaged in discussions with the Danish government, expressing its interest in prolonging the DUC license until 2050, in accordance with the 2020 North Sea Agreement. The company's leadership has welcomed this latest announcement, viewing it as an opportunity to maximize value from DUC operations while reinforcing Denmark’s position in the European energy market.

CEO Euan Shirlaw stated, "This license extension aligns perfectly with our long-term goals of maximizing outputs from the DUC, ensuring we meet not just shareholder expectations but also contribute positively to Danish society. An extension to 2050 means not only enhanced energy production but also a significant impact on reducing Europe’s reliance on energy imports."

The DUC plays a pivotal role in the Danish economy, contributing to employment and generating substantial state revenues. Additionally, production from the DUC has a lower carbon footprint compared to imported liquefied natural gas (LNG), further emphasizing its strategic importance in a global context that increasingly prioritizes sustainability.

BlueNord's engagement is in line with global trends where energy producers are being called upon to balance profitability with environmental responsibilities. By continuing to harness natural resources in a responsible manner, BlueNord aims to secure energy supply for Denmark and the wider European Union while advocating for a shift towards more sustainable practices.

The DUC’s production capabilities have been recognized not just for economic significance but also for enhancing the overall energy security of the EU. Shirlaw reiterated, "Danish North Sea production is crucial; it provides a dependable supply of energy while simultaneously contributing to the economic framework of Denmark. This announcement mere days before our fourth-quarter results on February 24 adds even more excitement to a thriving energy conversation."

The Danish government’s intention to explore this extension opens doors for further discussions on energy policy and sustainability efforts across Europe. BlueNord is poised to play a central role in these dialogues, reaffirming its dedication to advancing energy strategies that reflect both current and future requirements.

BlueNord’s forthcoming financial results on February 24, 2026, are expected to highlight the company’s performance amidst these promising developments, offering stakeholders insight into the company’s operational trajectory in the lead-up to potential licensing changes. This information could also influence investor confidence and the broader market outlook on the energy sector in Denmark and Europe.

For more detailed insights, the complete press release from the Danish Ministry can be accessed here.