RWE Expands LNG to U.S. Gas Trade as Banks Exit Commodities
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RWE AG is building its trading operations from New York to Singapore in a bid to gain market share as banks exit physical commodities markets.
The trading arm of Germany’s second-biggest utility plans to buy and sell U.S. natural gas from its New York office and may increase staff from 10 people currently, according to Andree Stracke, its head of global gas and LNG origination. The Essen, Germany-based company last year opened offices in Jakarta and Mumbai and hired traders in Singapore for liquefied natural gas, coal and Australian power.