Energy Trader BGN Plans Global Gas Push Ahead of New Supplies
(Bloomberg) — Energy trader BGN is set to expand its fledgling natural gas business into a global portfolio with stakes in plants, vessels and pipelines.
The push comes as the market for liquefied natural gas is set to boom, with US exports ramping up and Qatar, another major producer, also adding output. While that’s likely to push prices lower, the wave of extra supplies is poised to create new trading opportunities.
The firm is in talks to buy LNG on contracts as long as 15 years, as well as equity in U.S. export plants, the company’s co-heads of LNG, Ruben Mosquera Arias and Maria Eugenia Suardiaz, said in an interview in Istanbul on Thursday.
BGN got its start in the market for liquefied petroleum gas and has amassed a fleet of about 40 ships. In recent years, it has expanded rapidly into crude, oil products and metals.
“In LNG, we would like to be present globally as well, from the Atlantic basin to Asia Pacific,” said Suardiaz, declining to provide details on the volume they plan to handle.
Producers are set to add a record 300 billion cubic meters of annual export capacity by 2030, the International Energy Agency wrote last month in a report. That’s poised to reshape the market after years of scarcity.
“We want to capture this wave,” said Mosquera Arias.
The company is also applying for licenses to buy capacity in European pipelines. It expects to take delivery of its first newbuild LNG carriers in the next two years, although the executives declined to provide more details.
BGN started its LNG team in 2024 and sold spot cargoes to both Egypt and Germany earlier this year. In the summer, it struck a deal to supply as many as 42 shipments to the North African country, where it’s already a major LPG supplier.
Mosquera Arias and Suardiaz joined BGN from Spain’s Repsol SA. Two more traders have since joined them, and the plan is to add headcount, they said without elaborating. Its main hubs are Geneva, Dubai, Singapore and Houston.
“Diversification is important for us,” said Mosquera Arias. “If the opportunities to invest are good, we can go. We are open to anything.”
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