Just because tha album is slow and does not have many notes, it isn't minimalism. See Minimalist music.
Art music, and that is also reflected in electronic art music (mostly same ideas, different means of producing sounds). Read that article and then claim Ulver falls in that category.
Isn't experimental, ambient and electronic music enough to describe this album?
Even though there is nothing much experimental about this... piano, synthesizers, theremin, no unusual song structures or abrupt changes.