Danish energy company Orsted has offloaded its loss-making LNG business to major Swiss trader Glencore, adding to the volumes controlled by the gas carrier charterer.
The deal gives Glencore's oil division use of use 3bn cbm of annual regasification capacity at the Gate terminal in Rotterdam until 2031, plus five LNG supply contracts.
"The transaction involves a payment from Orsted to Glencore," Glencore said.
