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FACTBOX-Commodities traders strike major LNG deals
September 12, 2017 / 12:52 PM / 12 days ago

FACTBOX-Commodities traders strike major LNG deals

Sept 12 (Reuters) - Swiss-based commodity traders are boosting their presence in global liquefied natural gas (LNG) markets, grabbing a growing share of supply and challenging the dominance of the oil majors.

Trafigura, Gunvor, Vitol and Glencore are to deliver about 25 million tonnes of supply this year, or 8.5 percent of anticipated 2017 production - more than triple the volume in 2015.

Typically, traders act as go-betweens for producers and end-users, investing in logistics and storage to enhance trade, while also providing credit and shouldering risk for their customers.

Here is a list of major LNG deals concluded by top trading companies:

INFRASTRUCTURE DEALS:

Sept 2017 - Trafigura, which owns a small share in Pakistan’s second floating import terminal arriving in October called Pakistan GasPort, plans to develop another facility alongside it, including a jetty and berth.

Sept 2017 - Bangladesh shortlists Trafigura and Gunvor to provide two floating LNG import terminals in 2018, aimed at enlarging the country’s gas consumption.

April 2017 - Trafigura renews lease on LNG storage capacity at India’s Kochi import terminal.

Feb 2017 - Trafigura outlines plan to reopen a defunct LNG import terminal on Teesside in northeast England.

2016/2017 - Gunvor joins a consortium with Fatima Fertiliser , Royal Dutch Shell and Engro to install a third terminal in Pakistan. This is scheduled to come online in late 2018.

SALES DEALS:

June 2017 - Swiss trader AOT Energy signs memorandum of understanding with Bangladesh to help it line up LNG supplies.

May 2017 - Egypt begins to defer contracted LNG shipments as surging domestic gas output squeezes demand for imports, signalling the withdrawal of one of the fastest-growing LNG consumers from the global stage. Traders must look to new markets for growth.

Jan 2017 - Gunvor wins major tender to supply Pakistan with 60 LNG cargoes over a five-year period.

Dec 2016 - Glencore wins the biggest share of LNG supplies for Egypt in 2017, roughly 25 of 60 cargoes, in a tender. Trafigura to supply about 18 cargoes.

Dec 2015 - Gunvor to supply 60 LNG cargoes to Pakistan between 2016 and 2020.

Oct 2015 - Noble Group awarded “significant number” of LNG delivery slots over the mid-term into Egypt’s second import terminal.

June 2015 - Trafigura agrees deal to make use of spare storage capacity at Singapore LNG terminal.

April 2015 - Noble Group supplies first cargoes to Egypt’s import terminal, to deliver seven more cargoes.

Feb 2015 - Trafigura to supply Egypt with 33 cargoes, Vitol with nine LNG cargoes.

Jan 2015 - European commodity traders awarded lion’s share of tender to supply Egypt with $2.2 billion worth of LNG over 2015 and part of 2016.

Jan 2015 - Vitol begins LNG deliveries to South Korea’s KOMIPO under a 10-year supply deal for 400,000 tonnes of LNG annually.

2015 - Gunvor to deliver six cargoes to Taiwan’s state-run power utility CPC.

June 2013 - Glencore enters physical LNG trading after recruiting team from Morgan Stanley.

May 2013 - Trafigura to supply Mexico’s state utility CFE with 18 spot LNG cargoes in 2013/2014.

2013 - Trafigura sets up spot LNG trading desk.

April 2010 - Vitol signs deal to supply Kuwait Petroleum Corp with LNG to meet peak summer demand from 2010 to 2013.

2012 - Vitol wins 30 percent of Argentina’s tender seeking 35 LNG shipments for the Escobar terminal.

2009 - Gunvor sets up spot LNG trading desk.

2006 - Vitol sets up spot LNG trading desk.

SUPPLY DEALS:

Sept 2017 - RWE Supply & Trading signs deal for supply from Angola’s sole LNG export plant.

Sept 2017 - Vitol wins multi-year offtake deal for shipments from Angola LNG.

Sept 2017 - Gunvor beats Vitol to claim up to the entire 2.2 million tonnes a year production from Africa’s first proposed deepwater floating LNG export project in Equatorial Guinea for 10 years.

April 2017 - Vitol agrees deal to buy 300,000 tonnes of LNG a year from Gazprom Marketing & Trading Singapore from 2018.

March 2017 - Gunvor signs time-swap deal with state-run Gail India, gaining access to U.S.-produced LNG.

2016 - Trading houses join forces with national energy companies to sell LNG globally. Gunvor works with Trinidad’s National Gas Company, Trafigura with Russia’s Rosneft, Vitol with Oman Trading International, trading sources said. Glencore and others frequently source cargoes from Qatar.

Jan 2014 - Talks start between Russia’s Novatek, the developer of the Yamal LNG export plant in the Arctic Peninsula, and Gunvor for access to long-term supply. Industry sources say the talks culminated in Gunvor sealing a long-term LNG supply deal, the first-ever trading house to do so.

2010 - Gunvor secures 14 LNG cargoes from Peru’s liquefaction plant, sources 6 more from Atlantic Basin producers, and obtains capacity at European import terminals. (Reporting by Oleg Vukmanovic; editing by David Stamp)

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