Ørsted offloads its LNG business to Glencore

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Glencore has entered into an agreement to acquire the LNG business of Orsted A/S.

The agreement will involve Glencore novating a number of contracts, including the right to use 3bcm of annual regasification capacity at the Gate terminal in Rotterdam until 2031. The agreement also includes a number of LNG supply contracts.

The transaction involves a payment from Orsted to Glencore and is subject to a number of conditions. The transaction is expected to close in the summer of 2020.

List of the country updates

Country updates

  • December 16, 2019

    Gresham House fund completes acquisition of 50 MW energy storage projects in Cumbria and Kent

    Gresham House Energy Storage Fund has completed the acquisition of two operational battery storage facilities totaling 50MW from VLC Energy for GBP29.2 million (US$37.8 million). The acquisition...

    Read more
  • December 16, 2019

    Competition and Markets Authority clears sale of SSE's UK energy services business

    Competition and Markets Authority has cleared the proposed sale of SSE Energy Services, SSE's household energy and services business in UK, to OVO Group. The final preparations for completion is expe...

    Read more
  • December 12, 2019

    BlackRock reaches US$1bn FC for the Global Renewable Power III fund

    BlackRock Real Assets has achieved a US$1 billion first close for its Global Renewable Power III fund (GRP III) with commitments from over 35 institutional investors in North America, Europe, and Asia...

    Read more
  • December 11, 2019

    Asterion enters agreement with AMP Clean Energy with 100% stakes acquisition

    Asterion Industrial Partners has entered into an agreement with the  Aggregated Micro Power Holdings plc (AMP Clean Energy) for the acquisition of the 100% stakes in the company.  The...

    Read more
  • December 11, 2019

    EDF selects Port of Dundee as marine hub for 450 MW Neart na Gaoithe offshore wind project

    French utility Electricite de France SA (EDF) has selected the Port of Dundee as the marine hub for the development of the 450 MW Neart na Gaoithe (NnG) offshore wind project.  The por...

    Read more

Share this update