Subsea transformer enclosure A subsea transformer enclosure is provided. A transformer chamber of the subsea transformer enclosure is adapted to receive a transformer. A pressure compensation device is mounted to the transformer chamber and is adapted to provide pressure balancing between a dielectric liquid in the trans- former chamber and an ambient medium surrounding the subsea transformer enclosure. A bushing chamber is further mounted to the transformer chamber, and a liquid tight seal is provided between the interior of the bushing chamber and the interior of the transformer chamber. The pressure compensation device comprises a first and a second pressure compensator.