Danish state-owned utility Dong Energy has agreed to sell its entire stake in the 280 MW Energiverk Mongstad gas-fired power plant in Norway to Statoil (OSE: STL).

The deal, which is part of Dong’s ongoing divestment process, is worth around $298m.

Mongstad Power Station

Dong plans to divest non-core activities of a value of $1.75bn in 2013-2014.

“With the divestment of Mongstad, we are taking another significant step

towards the realisation of our financial action plan. We have now divested a total of approx. DKK 9 billion ($1.56bn) of non-core activities.” said Henrik Poulsen, CEO of DONG Energy.

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