What we do
About Hav Energy
INFRASTRUCTURE
Hav will invest in and develop energy infrastructure, including regulated pipelines and terminals, production facilities, power infrastructure and carbon capture and storage. Using our in-depth knowledge of regulations, operations and assets, Hav can free up capital, optimize balance sheets and enhance project economics through tailored financial structures. Hav will become a leading energy infrastructure company and take part in the energy transition by seeking industrial and financial exposure towards sustainable energy infrastructure solutions.
OWNED BY HitecVision
Hav Energy is owned by HitecVision, Norway’s largest private equity firm, with a total committed capital base of USD 7 billion and a solid track record as an owner and business developer on the NCS.
Governance
Hav Energy is an owner of Gassled JV and Polarled JV, which have assets in operation in Norway, UK, Belgium, France and Germany. The Gassled JV has an operator (Gassco), Technical Service Providers (TSPs), suppliers and multiple sub-suppliers working on the assets and in the supply chains. All these companies deliver products and services to Gassled/Polarled, and many workers are involved in Hav Energy’s human rights scope. In 2022, Hav Energy also became co-owner of four French SPVs which will construct, own and operate four LNG vessels with Knutsen LNG. The portfolio was further expanded in 2023, when Hav Energy invested in six additional French SPVs. Human rights issues are relevant across the entire lifecycle of a ship – from design, finance and ordering, through building and operation and recycling. Our two key business partners which we focus our attention on are Gassco and Knutsen LNG.
The Group’s Governing Principles and Code of Conduct form the foundation for its ESG governance. It guides directors and employees (including consultants) in complying with the legal and ethical requirements governing all business conduct. All employees are expected to conduct their actions in accordance with the Code and all applicable laws and regulations. Beyond that, employees are required to respect safety and environmental concerns and be sensitive to society at large. The Code provides procedures on how employees must report any breaches of the Code and follow up any reported misconduct.
To strengthen our employees’ understanding of their responsibility towards the business and human rights, Hav Energy promotes awareness when entering new frame agreements or similar and as part of the annual review of Hav Energy’s governing documents including ‘Code of Conduct’ and ‘IDD’ Policy document. In selecting suppliers, Hav Energy prioritises reputable business partners who are committed to ethical standards and who maintain strong and robust business practices.
Human Rights Due Diligence
In 2023, we updated our in-house human rights assessment, reviewing our business operations and relationships to refresh our understanding of our potential and actual human rights risks and impacts across the company’s value chain. We have followed-up our operators through established committees together with other owners, bilateral discussions and annual monitoring programs (Gassled). The assessment was carried out in accordance with the OECD guidelines for due diligence for responsible businesses. No negative impact on the human rights has been identified through the due diligence process.
Our two main business partners have done the following key steps for improvement through 2023:
- Knutsen: Reduced the approved supplier list by 20% in order to develop stronger relationships with suppliers enabling influence on their compliance
- Gassco: An external consultant has reviewed the first part of Gassco’s supply chain and completed an introductory mapping of the project portfolio and operations including a risk assessment based on the complexity and scope of the work
Hav Energy will continue with its specific priorities for supply chain human rights due diligence in 2024 which might be at higher risk than others:
- Operations at processing plants and offshore installations (risk related to personal injury and work conditions for foreign workers)
- Larger projects in execution phase (including construction of LNG vessels) involving several sub-contractors and foreign personnel
Transparency Act statement 2023
Download signed Transparency Act statement here.