Glencore: Glencore to acquire LNG business of Orsted A/S Mittwoch, 18. Dezember 2019 - 17:23
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Glencore plc
Baar, Switzerland
18 December 2019
Glencore to acquire LNG business of Orsted A/S
Glencore's Oil division is pleased to announce that is has entered into an agreement to acquire the LNG business of Orsted A/S (Orsted).
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.
For further information please contact:
| Investors | |||
| Martin Fewings | t: +41 41 709 2880 | m: +41 79 737 5642 | martin.fewings@glencore.com |
| Maartje Collignon | t: +41 41 709 3269 | m: +41 79 197 4202 | maartje.collignon@glencore.com |
| Media | |||
| Charles Watenphul | t: +41 41 709 24 62 | m: +41 79 904 33 20 | charles.watenphul@glencore.com |
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of offices located in over 35 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
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