Xcoal forms LNG marketing venture

Coal trader Xcoal has established XLNG Energy & Resources to market and deliver alternative forms of energy to the global marketplace.

XLNG’s primary objective is to market natural gas from abundant and proven reserves in the Marcellus and Utica areas of the US to Xcoal’s existing customer base in Europe and Asia, the company said in a statement on Wednesday.

These landlocked shale basins are located in the same geographical region as the coal fields in the Eastern United States and will allow for supply chain synergies, according to the statement.

“The creation of XLNG demonstrates our commitment to supplying our long term business partners with products necessary to meet their resource needs in a changing energy landscape,” Ernie Thrasher, CEO of Xcoal said.

LNG World News Staff; Image: Xcoal