UPDATE 1-Vitol and Mozambique's state oil firm form trading joint venture [Reuters]
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Source: Reuters
UPDATE 1-Vitol and Mozambique's state oil firm form trading joint venture - Reuters 2 Min Read (Adds background, context) By Julia Payne LONDON, Sept 17 (Reuters) - Global energy trader Vitol and Mozambique’s state oil firm, ENH, have launched a trading joint venture called ENH Energy Trading, Vitol said on Tuesday, to focus on liquefied natural gas (LNG), liquefied petroleum gas and condensate. The new entity will be incorporated and based in Singapore. The move is part of a wider trend since last year that has seen energy firms either set up new dedicated gas trading desks or expand existing ones in Singapore. Asia is the fastest growing LNG market, led by Chinese demand. Singapore has also been expanding its LNG infrastructure by increasing storage capacity. Mozambique has an estimated 125 trillion cubic feet of technically recoverable gas resources and is expected to become a top LNG exporter with over 30 million tonnes per year, the statement said. There are two mega LNG projects
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- 3/21/24 - Form 4
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