JERA, EDF Finalise LNG JV
Japan’s LNG importing giant JERA and global wholesale energy markets player EDF Trading have completed the transaction to merge their LNG optimization and trading activities into JERA Global Markets (JERAGM), the new name for JERA Trading.JERAGM is now the exclusive LNG optimiser for JERA and EDF S.A., managing their collective short and medium-term LNG optimisation activities in the wholesale markets.
EDF Trading, JERA Form LNG Joint Venture
On July 3, 2018 JERA Co., Inc and EDF Trading Limited (EDFT) announced their intention to form an LNG optimization and trading joint venture, JERA Trading Pte. Ltd. (JERAT).In addition to this transaction, EDF Trading North America (EDFT NA) and JERA Energy America (JERA EA), an affiliate of JERA, entered into an agreement…
What Glencore-Tohoku Coal talk Impass Means for Market
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan's Tohoku Electric and Glencore to agree on an annual thermal coal contract that is used to set prices for the region. Tohoku Electric, a major Japanese utility, and Glencore, the world's biggest exporter of seaborne thermal coal…
EDF Trading Names European Gas Trading Chief
EDF Trading, a subsidiary of French energy company EDF, has hired David Brookes as its new head of European gas trading, a spokeswoman for the firm told Reuters. Brookes, who was previously head of EMEA gas trading at Citigroup Global Commodities, will start the role on Sept. 12. Brookes will report to Marcello Romano, head of trading, Europe, at EDF Trading, the spokeswoman added.
Traders Lose Millions as LPG Glut Routs Market
U.S. propane buyers cancel cargoes as prices sink. Chinese end-users seek to wriggle out of expensive contracts. Traders in the liquefied petroleum gas (LPG) market face a "career-ruining" glut that has led to millions of dollars in losses as Chinese buyers, far from coming to the rescue, are in a stand-off with oil companies to cancel deals.
Rasgas inks New LNG Deal with EDF
Qatar's RasGas said on Wednesday it signed a new agreement with French energy company EDF to deliver up to 2 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) starting from next year. Under the deal, Ras Laffan Liquefied Natural Gas Company 3 will deliver the LNG into EDF's new terminal in Dunkerque, France. "This…
Centrica to Relocate Most Trading Staff to Central London
Britain's largest energy supplier, Centrica, will relocate most of its energy trading staff to a central London location from its Windsor headquarter this year, a spokesman said on Thursday. About 150 of Centrica Energy Marketing and Trading's (EM&T) 250 staff will move to an office on London's Oxford Street as the company aims to cut travelling costs, the spokesman said.
EGAS: BP LNG Cargo Postponed, Denies Payment Trouble
Egypt's state-owned EGAS said on Friday it had postponed a liquefied natural gas (LNG) delivery from BP last month until later this year, rejecting suggestions there were any payment difficulties. LNG tanker British Sapphire was diverted to Brazil rather than discharging in Egypt. Traders said the delay was related to payment problems.
Stuck at Sea, BP's LNG Shipment Highlights Egypt's Payment Struggle
BP's diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country's currency crisis could be jeopardising its energy supplies, traders said. Earlier this month the tanker British Sapphire was diverted to Brazil rather than discharging in Egypt, with the delivery of the LNG cargo for Egypt delayed up until October, traders said.
Korea Gas Offloads Excess LNG Supply to EDF
Korea Gas Corp has agreed with the trading arm of France's EDF to funnel excess liquefied natural gas (LNG) supply into Europe and beyond, the French company said on Wednesday. Caught out by sinking domestic demand, Kogas, which until recently was the world's leading LNG buyer, and its Asian peers are manoeuvering to offload…
Egypt to Buy 55 LNG Liftings
Egypt's state gas board EGAS said on Monday it is to buy 55 cargoes of liquefied natural gas (LNG), 10 more than originally planned, via a tender it has awarded to seven companies which will deliver the fuel from the start of November. "Head of EGAS Khaled Abdel Badie said that bids from seven companies had been accepted out…
BG's Singapore Move Seen Cutting Big UK Tax Bill
When BG Group Plc announced last week it was shifting the headquarters of its oil and liquefied natural gas (LNG) trading operation to Singapore from Britain, it said the aim was to get closer to its customers. Analysts and consultants agreed that the growing importance of Japanese and Korean utilities in the LNG market meant the move would have clear logistical and commercial benefits.
