Rapid growth: Trading houses are turning their attention to LNG, where spot trading is rapidly expanding. — Reuters
London: With margins narrowing in the crude oil business, some of the world’s biggest commodity trading houses are helping to reshape the energy industry with a drive into liquefied natural gas (LNG).
Gunvor Group Ltd, Trafigura Group Pte Ltd and Vitol SA have moved a step beyond trading LNG, investing in ships and terminals handling the fuel. That’s accelerating the growth of the industry, moving more gas that traditionally has flowed through pipelines onto ocean-going tankers chilled to minus 162 degrees Celsius.
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