Gunvor LNG Trade Grows

Swiss energy trader Gunvor will have delivered 16mn metric tons (mt) of LNG this year, up 45% on 2018. In 2016, it delivered just 4mn mt. That makes it the largest pure trader by volume, but the company declined to comment on the growth, if any, in profits after what has been a very difficult year for gas sellers. India was the largest market, where Gunvor delivered 75 cargoes in 2019.

Gunvor also remains the largest charterer of tankers, it said December 18, having conducted more than 50 charters in 2019. The company has 15 LNG vessels under time charter. In 2018, Gunvor concluded more than 25 spot to multi-voyage fixtures.

Gunvor’s co-head of LNG Kalpesh Patel said the company's “considerable presence in the LNG market is the result of consistent and reliable performance and strong partnerships along the value chain.”

“Despite the near-term bearish sentiment in the LNG and natural gas markets, Gunvor remains positive on growth of natural gas within the energy mix for future,” he continued. “While more than 60% of Gunvor's volumes delivered in 2018 were under mid- to long-term contracts, that percentage will also increase, as we are progressing on a number of long-term initiatives around the world, including expanding our portfolio of vessels secured on a long-term charter.”