EDF Trading enters LPG market
EDF Trading, a wholly-owned subsidiary of EDF S.A., has signed an agreement with Enterprise Products Partners LP, a leading North American provider of midstream energy services, to acquire long-term LPG export capacity from terminal facilities located on the US Gulf Coast.
“This is a logical extension of our international ocean-borne LNG and coal business and compliments our growing position in US natural gas,” said Philipp Büssenschütt, Chief Commercial Officer, Origination and Business Development at EDF Trading. “This agreement works well alongside a recent long term transaction we signed to deliver US sourced LPG to an Asian end user,” he continued.
“This is a great new business for EDF Trading. Liquids production in the United States will continue to increase with the growth of shale resources. Having export capacity gives our global energy customers a link to the US market,” said John Rittenhouse, Chief Executive of EDF Trading.
EDF Trading is the fifth largest natural gas marketer in North America with a portfolio of gas production and development assets in East Texas and the Marcellus region. It is one of the largest gas storage lessors in the North American market and holds transportation agreements with pipelines throughout the region.
EDFT has an established presence in the Asia Pacific market through its offices in Singapore, providing long-term, multi-fuel supply agreements. It signed a joint venture with Chubu Electric Power in 2007 creating Chubu Energy Services which has exclusive supply arrangements for Chubu’s Hekinan power plant in Japan. EDFT is active in the Asian carbon and biomass markets and has also been particularly active in supporting the growing demand for LNG in Japan, Korea and countries throughout Asia.
For further information, please contact:
Michele Reid, Head of Communications
Tel: +44 (0) 20 7061 4232
About EDF Trading
EDF Trading is a leader in the international wholesale energy markets. It manages a portfolio of assets which give it the ability to source, supply, transport, store, blend and convert physical commodities around the world. These capabilities enable EDF Trading to deliver essential asset optimisation services, risk management and wholesale market access to the EDF Group and its third party customers, helping them to realise the value inherent in their asset portfolios.
EDF Trading is active in the electricity, natural gas, LNG, upstream gas, coal and freight, oil logistics and environmental products markets. It is one of the largest wholesale market traders in Europe for power and gas, one of the main providers of energy management services for power generation companies in the US and the fifth largest marketer of gas in North America. It is one of the largest importers of coal into Europe and is a leading US energy retailer for large commercial and industrial customers.
EDF Trading is a 100% owned subsidiary of EDF, Europe’s leading electricity producer.
EDF Trading has around 1000 employees with offices in the UK, Europe, Singapore, China, the United States and Canada.
For more information on EDF Trading, please visit www.edftrading.com.
EDF Trading enters LPG market