Gunvor Eyes New U.S. Energy Deals

Benzinga

Gunvor is exploring additional U.S. oil and gas investments, shifting its focus toward natural gas after abandoning a bid for Lukoil’s foreign assets. The trader, which already has more than $4 billion invested in the U.S., holds a major stake in Flywheel Energy and sees growing demand from data centers and new LNG plants. Analysts expect oil prices to soften next year even as natural gas demand rises.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Gunver has explored new U.S. oil and gas investments as part of active talks

00:06that could expand its presence in American energy markets, according to Reuters.

00:10Gunver previously dropped its bid for Luka Oil's foreign assets after U.S. opposition,

00:14and potential U.S. deals now appear centered on natural gas.

00:18Gunver said the U.S. remains a key growth area, with more investments expected,

00:22but its existing U.S. portfolio exceeds $4 billion.

00:25The company entered U.S. upstream natural gas production last year

00:28and holds a 42% minority stake in Oklahoma-based private producer Flywheel Energy.

00:34And let's expect oil prices to face pressure next year,

00:36while natural gas demand may rise due to data centers and new LNG plants.

00:41For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended