Word: nyhamna
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Dates: during 2007-2007
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...during the investigation left him little choice but to resign as the combined company's first chairman. (He remains CEO of Hydro's aluminum and power businesses, which were not part of the merger.) "It's been an eventful week," Reiten, 54, told TIME amid the icy rain in Nyhamna. "Both for good...
...Hydro, an Oslo-based energy and metals company he was running, completed a $36 billion merger with Statoil, its beefier Norwegian rival, creating the world's largest offshore energy operator. Five days later, Reiten hosted his country's King and Queen in Nyhamna, a third of the way up Norway's west coast, at the official launch of a record-breaking gas production and processing project forged by Hydro to harness gas from 120 km away under the Norwegian...
Take Ormen Lange, the name of the deep-sea field 75 miles (120 km) from Nyhamna. Hover over the sea above the enormous gas reservoir and you won't see a rig. Instead, the company overcame under-water peaks, subzero temperatures and powerful currents to build extraction installations directly on the seabed half a mile (1 km) below the surface. In a couple of hours extracted gas reaches the Nyhamna plant, where it's processed and sent to the U.K. via the world's longest underwater pipeline (it's a trip that can take as little as two days...