Trafigura LNG Sales Grow in 2018

Trafigura said it has consolidated further its position as "the world’s leading independent trader of LNG".

In its annual report released December 10, it said it increased delivered sales by 22% in its financial year 2018 to 9.85mn metric tons, up from 8.1mn mt in FY 2017, driven by sales to China and South Korea, with the Asian share of its LNG business jumping to 30%. Trafigura's financial year runs from October 1 to September 30.

The Singapore-registered trader said it is well positioned to supply the market, thanks to a series of multi-year offtake agreements signed with LNG producers in 2018, with the first of its 15-year, 1 mn mt/yr offtake from US Cheniere Energy due to ship in January 2019. The world's largest independent traders of LNG are Trafigura, Vitol, Gunvor and Glencore. 

But it hasn't all been growth everywhere: last month Bangladesh cancelled further talks on developing future small LNG import terminals with a number of traders, including Trafigura.

Turning to natural gas, Trafigura said it saw growing sales of natural gas to Ukraine, Spain and Italy, and in the US became the largest purchaser of gas in Texas and the largest supplier to Mexico. Trafigura’s gas sales however declined to 6.9mn mt oil equivalent in FY 2018, from 7.9mn mt oe in FY 2017.

Trafigura, still principally an oil, and oil product, trader but also operating in metals/mining, saw its overall net profit shrink to $872.8mn in the 12 months to September 30 2018, from $887.3mn in FY 2017 and $974.7mn in FY 2016.