Glencore wraps up Orsted LNG business buy

Switzerland-based trader Glencore said it has completed the acquisition of LNG business from Danish energy group Orsted.

Glencore’s Oil division wrapped up the purchase, announced in December last year, on Tuesday.

The transaction involves Glencore taking over a number of contracts, including the right to use 3 bcm of annual regasification capacity at the Dutch Gate terminal in Rotterdam until 2031. The deal inlcudes a number of LNG supply contracts as well.

Additionally, the transaction also involves a payment from Orsted to Glencore. The trader did not reveal the amount of the payment.

“We are increasingly focusing on the LNG business as a key part of our oil division strategy and the Orsted transaction represents an important milestone in that journey,” Alex Sanna, head of Glencore Oil marketing said.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Wilhelmshaven LNG jetty ready to welcome Excelerate’s FSRU

Dutch marine contractor Van Oord announced on Monday it had completed the new jetty for its client, state-owned LNG...

More News Like This

Glencore, Commonwealth LNG finalize 20-year supply deal

Switzerland-based energy trader Glencore has finalized its previously announced long-term agreement with Kimmeridge's Commonwealth LNG to buy liquefied natural gas from the latter's planned LNG export plant in Cameron, Louisiana.

Glencore seals LNG supply deal with China’s Shandong Order Group

China’s Shandong Order Group has signed a deal to buy liquefied natural gas (LNG) from a unit of Switzerland-based energy trader Glencore.

Argentina’s Enarsa gets offers for LNG cargo tender

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

Kimmeridge’s Commonwealth inks long-term LNG supply deal with Glencore

Under the heads of terms, Glencore will buy 2 million tonnes per annum of LNG for 20 years from...