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Gunvor 2019 LNG Results
18 December 2019
“We are pleased to deliver another year of growth in our LNG business,” said Kalpesh Patel, Gunvor Group’s co-head of Liquefied Natural GasNatural gas is a fossil fuel composed mainly of methane, a hydrocarbon compound. It is formed deep beneath the Earth's surface as a result of the decomposition of organic matter... Read more (LNG) trading. “Our considerable presence in the LNG market is the result of consistent and reliable performance and strong partnerships along the value chain. Despite the near-term bearish sentiment in the LNG and natural gas markets, Gunvor remains positive on growth of natural gas within the energy mix for the future. While more than 60% of Gunvor’s volumes delivered in 2018 were under mid- to long-term contracts, that percentage will also increase, as we are progressing on a number of long-term initiatives around the world, including expanding our portfolio of vessels secured on a long-term charter.”
In 2019, Gunvor will deliver 16 million tonnes of LNG (45% increase YOY).
- 2018: Delivered 11 million MT (60% increase YOY)
- 2017: Delivered 7 million MT (75% increase YOY)
- 2016: Delivered 4 million MT
Gunvor remains the largest charterer of LNG vessels in 2019, with a growing long-term freight book. Gunvor conducted more than 50 charters in 2019. The company currently has 15 LNG vessels under time charter. In 2018, Gunvor concluded more than 25 spot to multi-voyage fixtures.
India was the largest market, where Gunvor delivered 75 cargoes in 2019.
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