Glencore Acquires the LNG Business of Ørsted

Updated 6 months 2 weeks ago

Glencore announced in December 2019 an agreement to acquired the LNG business of Ørsted. The agreement will involve Glencore novating a number of contracts including the right to use three billion cubic meters of annual regasification capacity at the Gate Terminal in Rotterdam until 2031 as well as a number of LNG supply contracts. The transaction involves a payment from Ørsted to Glencore and closed in December 2020.