Trafigura's LNG traded volumes jump 27% in 2017
Published by Joseph Green,
Reuters are reporting that commodities trader Trafigura grew LNG traded volumes by 27% to 8.1 million t this year after expanding its trading desk, aided by sharp Asian demand growth.
Swiss trading houses are expanding into the global market for LNG, until recently the preserve of energy giants, and expect to grab a US$10 billion share of the business this year, delivering more than 8.5% of global supply.
Trafigura, the biggest independent trader of LNG by volume in 2016 at 6.4 million t, this year extended its leading position, it said in its 2017 annual report.
Rivals, including Vitol, Gunvor and Glencore have not yet published their final 2017 LNG trade volumes.
Industry sources earlier this year expected Vitol to raise volumes to at least 7 million t. Gunvor was to lift deliveries substantially above the almost 4 million t it delivered in 2016.
The company also moved into developing infrastructure to meet emerging markets’ appetite for gas with a minority stake in Pakistan’s second import terminal, GasPort, and plans to set up another import project in the country.
It is also working on a floating storage and regasification unit (FSRU), or terminal, project at Teesside, north-east England.
Despite fears of oversupply, surging LNG output from plants in Australia, Angola and the US collided with a steeper run-up in Far East demand for the fuel, especially in China, energising a vibrant spot traded market.
Spot LNG prices LNG-AS hit a three year high last week after breaking above US$10 per million British units.
Read the article online at: https://www.lngindustry.com/liquefaction/12122017/trafiguras-lng-traded-volumes-jump-27-in-2017/
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