trending Market Intelligence /marketintelligence/en/news-insights/trending/PiQuzIe5hdGqxFlg2ktdHw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Ørsted pays Glencore to take over its 'loss-making' LNG business

State of the Market: Mining Q1-2020

Mining Exploration Insights - April 2020

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results


Ørsted pays Glencore to take over its 'loss-making' LNG business

Danish renewables developer Ørsted A/S is paying Swiss mining and commodities giant Glencore PLC to take over its LNG business, which it described as "loss-making" and said it was expected to remain so "for years to come."

The transaction will result in a loss exceeding Ørsted's current provision related to the LNG activities, the company said Dec. 18. However, it expects the deal to have a positive impact on its EBITDA from 2020 onwards.

In a separate news release, Glencore said it will "novate" the LNG contracts that it will take over from Ørsted, which includes the right to use 3 billion cubic meters of annual regasification capacity at the Gate terminal in Rotterdam, Netherlands, until 2031, as well as five LNG purchase agreements.

Subject to a number of conditions, the deal is expected to close in the summer of 2020.