By Per Hemmer, Johan Weihe, Rania Kassis and Per Vestergaard Pedersen
Written by associates from the Bech-Bruun sector team for Energy and energy supply.
Published in Global Competition Review's publication "Getting the Deal Through - Gas Regulation" in 2010.
The Faroe Islands are an autonomous province of the Kingdom of Denmark, with approximately 48,000 inhabitants. Situated roughly half way between Scotland and Iceland in the north-east Atlantic, the Faroe Islands are an archipelago of 18 mountainous islands, with a total land area of some 1,400km2 and a sea area of 274,000km2.