Sonaci, the trading arm of Sonangol and DT Group, a joint venture between Trafigura Pte and Cochan, have announced the intention to create a new company to trade Liquefied Natural Gas (LNG) globally.
This move is subject to regulatory clearance.
The new company, Sonaci DT Pte Ltd, will employ teams in both Geneva and Singapore, combining trading expertise and existing client relationships, with risk evaluation, management and middle market experience.
“We have an excellent opportunity to build a world class LNG-focused trading business by combining the strengths of our two companies,” said Mrs Rute David, President of Sonaci . “We intend to source products on the international market as well trading the volumes earned from Angola LNG Market Company’s Tenders.”
Mariano Marcondes Ferraz, CEO, DT Group said: “Our objective is to apply our expertise and capabilities to become a leading independent LNG trading company. We will also evaluate the acquisition of vessels and other assets to support the business.”
[mappress] LNG World News Staff, February 28, 2013; Image: Trafigura