Although he was born in Bodø, he moved with his family to Drammen, Norway when he was a child.
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He is best known in the English-speaking world for two albums recorded by Danko/Fjeld/Andersen, a collaboration with Canadian Rick Danko of The Band and American singer-songwriter Eric Andersen.
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Værnes has participated on numerous recordings in different generes, including Geirr Lystrup's Songen om kjærleika (1980), Etterlatte sanger (1986)together with Sidsel Endresen and Jonas Fjeld, Jan Eggum's (E.G.G.U.M. (1995) and Stilig (1986), and Gym (1997) with Di Derre.