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LNG Regasification
The process of converting LNG (liquefied natural gas) back to gaseous form after receiving it at an import terminal. This step is essential to inject the gas into pipelines for distribution to end-users. Read MoreCargo Laycan
In LNG or crude oil shipping, the laycan is the date range during which a vessel must arrive at the loading port to load its cargo. If the vessel misses the laycan window, it can be refused loading. Read MoreAPI Gravity
A measure of the density of crude oil as per the American Petroleum Institute. Traders often use API gravity to determine a crude’s quality and suitability for refining certain products. Read MoreForce Majeure
A contract clause allowing parties to suspend or terminate obligations due to unforeseeable events beyond their control (e.g., natural disasters, wars, pipeline failures). Physical energy markets rely on specific force majeure language because physical delivery can be interrupted by these events. Read MoreDark Spread / Spark Spread
These are common in electricity and fuels trading, reflecting the margin between the cost of the fuel input and the value of the electricity output. Spark Spread typically refers to gas-fired power (price of electricity minus cost of natural gas).Dark Spread is similarly calculated for coal-fired generation. Read MoreTake-or-Pay
A contractual clause obligating the buyer to take (and pay for) a minimum contractually specified volume of product or pay as if the product had been taken, even if not physically delivered. Read MoreSwing (or Swing Volume)
The optional or flexible portion of a longer-term physical contract, allowing a buyer or seller to adjust volumes (within defined limits) based on demand, often seen in natural gas and power contracts. Read MoreContango / Backwardation
Contango: Future prices are higher than the spot price, often incentivizing storage (e.g., storing oil in tankers to sell later).Backwardation: Future prices are lower than the spot price, often disincentivizing storage and encouraging immediate sale. Read MoreNominations
In physical gas or crude oil trading, a “nomination” is the formal request or schedule that a shipper submits to a pipeline, storage facility, or terminal operator, detailing the volume of product to be transported, stored, or delivered over a given period. Read MoreBasis Differential (or Basis Risk)
The price difference between a reference price (e.g., at a major hub like Henry Hub) and the actual physical delivery location. Traders must manage basis risk to account for local supply/demand dynamics, transport costs, and pipeline constraints. Read MoreBalancing Mechanism (BM)
A system (frequently used in electricity markets) through which the grid operator balances the real-time supply and demand of energy. Market participants submit bids/offers to increase or decrease generation or consumption to keep the grid stable. Read More
Gunvor Group Results 2024
Gunvor Group Ltd (“Gunvor”), one of the world’s leading independent commodities trading companies, today announces the following financial information for the year ended 31 December 2024: Revenue: US $136 billionVolumes: 232 million MTGross profit: US $1.8 billionNet profit after taxes: US $729 millionEquity: US $6.5 billion Gunvor continued its track record of solid performance, posting […]