Gunvor closes $1.56 billion loan to boost LNG business

Geneva-based trader Gunvor has renewed a $1.565 billion loan facility to support its growing liquefied natural gas (LNG) business.

According to a statement by Gunvor on Wednesday, the syndication launched at $1.2 billion and was oversubscribed, with “strong appetite” from new lenders, including more than 20 banks from Europe, the Middle East, Africa, and Asia while six new banks joined.

After that, the syndicated borrowing base increased from $1.135 billion to $1.565 billion.

The facility, which was inaugurated last year, has been structured around Gunvor’s global LNG trade flows, including shipping activities, and will finance physical and derivative positions.

As a part of the facility, Gunvor said it had committed to CO2 carbon emissions reporting to establish transparency for the carbon footprint of the company’s LNG value chain.

“The very strong interest this financing has received from such a diversified pool of lenders reflects the global nature of Gunvor’s LNG activity,” Tawfik Sadfi, Gunvor’s head of structured trade finance said in the statement.

“LNG has secured a place as strategic commodity for both the energy transition and energy security,” Sadfi said.

Gunvor traded 99 million tonnes of crude oil, natural gas, LNG, and other commodities during the first half of the last year. This compares to 118 million tonnes in the same period last year.

The trader did not provide details regarding LNG volumes in the first half. This was also the case with 2020 and 2021.

According to the company’s website, Gunvor delivered 4 million tonnes in 2016, 7 million tonnes in 2017, 11 million tonnes in 2018, and 16 million tonnes in 2019.

Most Popular

Venture Global withdraws Delta LNG application

US LNG exporter Venture Global LNG is withdrawing its FERC application for the proposed 24.4 mtpa Delta LNG export facility in Louisiana. Instead, Venture Global will focus on expanding its Plaquemines LNG export facility in Louisiana.

Cheniere aims to start construction on Sabine Pass LNG expansion in late 2026

US LNG exporting giant Cheniere aims to start construction on the proposed expansion project at its Sabine Pass LNG export facility in Louisiana in late 2026.

Delfin seeks new DOE extension, eyes FID on first FLNG in August

Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, is seeking an additional extension from the US Department of Energy. The company is looking to make a final investment decision on the first FLNG in August.

More News Like This

Argentina’s Enarsa gets offers for new LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received six offers for its third LNG cargo tender in 2025.

Gunvor’s unit takes Pertamina’s PGN to arbitration over LNG supply dispute

Gunvor Singapore initiated the arbitration processes on September 13, according to PGN. The case was filed with the London Court...

Gunvor in Italian small-scale LNG move

Geneva-based energy trader Gunvor has signed a non-binding deal to buy liquefied natural gas from LNEnergy's planned small-scale LNG...

New LNG carrier joins Celsius fleet

South Korea’s Samsung Heavy Industries has hosted a naming ceremony for one 180,000-cbm LNG carrier it built for Denmark’s...