Nordic-Light-Jun2014-Aug2014

NBCC News
DNB in Brazil - keeping the faith strong
By Runa Hestmann Tierno
The head of the Norwegian shipping and energy
bank DNB ASA in Brazil, Arne-Christian Haukeland,
considers the Sete Brasil project a main driver in the
Brazilian economy, and says DNB and Latin America
are a perfect match.
Norwegian DNB ASA has been present in Brazil
since 1968, and is currently one of the leading
shipping and offshore banks in the world, together
with Swedish Nordea Bank. In Latin America,
DNB has a very strong position in the financing
of projects in the energy and offshore sector, and
according to IFC, the infrastructure arm of the World
Bank, DNB has the second biggest portfolio in Latin
America, that is of loan participants in infrastructure
projects. In Latin America, the bank has defined
seafood, shipping and energy as focus areas, a
strategy that is showing results.
“The sectoral approach is what differentiates us
from other Nordic banks, and by strengthening our
competence and significance in the region, we can
open doors to our Nordic clients,” Haukeland says in
an interview with NordicLight.
A Brazilian-Norwegian project
In Brazil, DNB is involved in the financing of the
Sete Brasil drill ships currently under construction
here as their ECA advisor, in close cooperation with
Norwegian GIEK, Eksportkreditt Norge, BNDES and
UK Exim.
“This is something we have spent a lot of
time working on and closely considering, and our
conclusion is positive. DNB is committed to this
project, and believes in Sete Brasil,” says Haukeland.
Despite the positive evaluation, DNB sees several
challenges, and Haukeland is more optimistic
Arne-Christian Haukeland.
when talking about the oil-driven economy. It is however
important to be aware of the pitfalls.
“You need to count in that challenges will occur in
such a new and large project, but we believe that what
Sete Brasil has planned will materialize. Today we see a
higher level of activity in the oil and gas sector, and more is
happening than a year or two ago. New blocks have been
auctioned off and new contracts are being signed. A lot is
linked to Sete Brasil,” Haukeland observes.
He even calls Sete Brasil a “Brazilian-Norwegian project”.
A significant part of the contracts has been given to
Norwegian suppliers, about USD 4-6 billion out of a total of
USD 25 billion.
“We expect big investments from Norway and about
25 different Norwegian companies have already been
contracted as suppliers. A considerable share of the
Norwegian companies active in Brazil are involved. This
is extremely important to Brazil, but also to Norway and
to Norwegian industry -- for several years to come,”
Haukeland says.
NBCC
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