February 28, 2013 / 3:35 PM / in 6 years

CORRECTED-Angola, Trafigura JV form LNG trading group

(Corrects name of new company to Sonaci DT Pte Ltd in para 2 from Sonaci)

GENEVA, Feb 28 (Reuters) - Angola’s state oil firm Sonangol has teamed up with a Trafigura joint venture DT Group to set up a global LNG trading desk, Trafigura said in a statement on Thursday.

The new company, Sonaci DT Pte Ltd., will market both Angola’s new LNG exports and cargoes sourced on the international market, the statement said.

Sonaci DT Pte Ltd. will hire trading teams in Geneva and Singapore.

Swiss-based Trafigura is one of the world’s top energy trading houses. Its subsidiary Puma Energy has a significant presence in Angola through a joint venture with Angola’s Sonangol.

Angola has delayed plans to begin exporting LNG because of technical problems at its $10 billion plant.

It was initially due to begin exporting in the first quarter of 2012 but pushed it back to the first quarter of this year. (Reporting by Emma Farge; editing by William Hardy and Anthony Barker)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below