Commodity trading company Vitol nearly tripled its traded volumes of liquefied natural gas last year as the LNG market continued to grow.
Vitol traded 7.4 million tonnes of the chilled fuel in 2017, the company said on Monday.
This compares to 2.6 million tonnes of LNG Vitol traded in 2016.
“In LNG, where we have long had a presence, the market is evolving as anticipated and our volumes grew commensurately,” Vitol said in the statement without providing any additional info.
On the other side, Vitol’s LPG volumes fell slightly to 14.3 million tonnes, after strong growth in 2016.
“Nonetheless, we continue to see LPG as a longer term growth opportunity, with US supply growth satisfying the need for cleaner fuel and power solutions in developing economies,” the trader said.
LNG World News Staff