Glencore’s takeover of Orsted LNG effective

Diversified miner Glencore on December 1 completed the acquisition of Danish multinational power company Orsted’s liquefied natural gas (LNG) business.

Under the terms of the transaction, Glencore’s oil division has taken over a number of LNG supply contracts, as well as the right to use three-billion cubic metres of annual LNG regasification capacity at the Gate terminal, in Rotterdam, until 2031.