This thesis describes methods to obtain value–added compounds from TMPturpentine obtained from the spruce, Picea abies. The methodology focuses on biotransformations using two approaches: an oxygenation approach (i.e. oxygenation of terpene hydrocarbons by cell cultures) and an esterification approach (i.e. lipase-catalysed transesterification of vinyl acetate with terpene alcohols, and a furth...