Gunvor LNG Sales Up 60% in 2018
Oil and commodities trader Gunvor said its LNG traded volume increased by about 60% this year.
Gunvor's 2018 delivered volume was approximately 11mn metric tons, up from 7mn mt in 2017 and 4mn mt in 2016, it told NGW December 18.
The roughly 11mn mt delivered in 2018 was the equivalent of 176 shipments covering the Atlantic Basin, Europe, the Far East and Middle East markets. Gunvor said it is "well positioned for continued growth with sustainable flows from LNG producers and end buyers for years to come".
More than three-fifths of its 2018 delivered volume was under mid- to long-term contracts, it said. It included the first cargo under a 23-year, long-term contract with Yamal LNG (banner photo shows a cargo leaving the Yamal project, courtesy Yamal LNG).
Gunvor said also that it is among the largest charterers of spot LNG tonnage, having concluded more than 25 spot- to multi-voyage fixtures in 2018.
The four leading independent LNG traders – Gunvor, Trafigura, Vitol and Glencore – together accounted for 27mn mt of LNG sales in 2017 or 9% of total LNG trade, said consultancy Wood Mackenzie in January 2018; of that Trafigura was 8.1mn mt, Vitol 7.4mn mt and Gunvor 7mn mt. Preliminary data suggest that the quartet's share may exceed 15% in 2018.
Geneva-based Gunvor’s data suggest it may be on course to top the rankings for 2018. Vitol is reported to have delivered between 9- and 10mn mt this year although this is not confirmed by NGW; indeed Vitol later said it will not release 2018 numbers for a while. Last week Trafigura said its delivered LNG sales were 22% higher year-on-year at 9.85mn mt in its financial year, from October 2017 to September 2018.