​LNG Trading & Marketing – A year in review

2022 has been a remarkable year for Global LNG in many ways – from record volatility, to record profits – it’s been a roller-coaster of a year which in turn has paved way for a new era of LNG for years to come. Q1 2022, the start of the EU conflict, sent the Gas/LNG markets into a frenzy, pushing prices to record heights as buyers scrambled to diversify away from Russian gas and secure alternative supplies. Managing ‘unseen’ risks were by far the biggest challenges of the year i.e. margin calls, force majeure, counterparty insolvencies etc., which limited trading activity to only a handful of players.

In the two key import markets, Europe and Asia Pacific, market responses have varied. Europe rose to swallow up most of the demand for spot LNG cargoes paying high premiums to secure the sub-zero fuel in a scramble for energy security, whilst Asia Pacific regional spot trading experienced a dip in activity as price sensitive buyers opted against purchasing expensive spot cargoes in favour of locking in more economical mid-long term deals to ensure stable supply.

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Hiring trends at a glance and forecasts for 2023

We observed 2022 hiring trends to have mirrored LNG commercial developments, with nuanced approaches from region to region. In stark contrast to previous years, APAC LNG hiring has witnessed a steep decline in overall activity owning to a number of factors ranging from the geopolitical uncertainties of the EU conflict to decreased profit margins on physical LNG spot trading. Subsequently, we’ve observed little-to-no spot trading talent movement / external hiring initiatives, however, we have recorded a number of internal moves, including regional transfers and promotions, which have been especially common place amongst the Oil Majors and top-tier independent traders including but not limited to BP, Shell, Vitol, Glencore.

An up-tick in APAC mid-to-long term SPA activity has also created an increased demand for Marketing & Origination talent in the region, which has been especially prevalent amongst the US producers, Oil Majors, and Traders including but not limited to Chevron, NextDecade, MexicoPacific, and Vitol

Analytics hiring has also been on the rise as APAC trading floors seek to leverage on the ground research support seeking both on fundamental and quantitative skillsets, particularly with the Oil Majors, Producers, and Traders including but not limited to BP, Chevron, ExxonMobil, Glencore.

We are cautiously optimistic APAC LNG hiring will pick up pace in 2023 as the market moves towards balancing, with hiring likely to be driven by well-established LNG platforms including Oil Majors (BP, Shell, Exxon) and Producers (Woodside Energy, MexicoPacific). We also expect interest for LNG derivatives trading talent to grow as companies seek to better manage risk exposures, especially after the extreme volatility last year – a hiring trend we’ve observed with platforms including Petronas and ExxonMobil.

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What people are talking about:

• Commodities 2023: Asian LNG markets to brace for more uncertainty, macro risks
• In 2023, China’s appetite for LNG set to rise amid tepid demand across Asia
• US Surges to Top of LNG Exporter Ranks on Breakneck Growth​

What we are working on:

• LNG Derivatives Trader (Utility)
• Senior Power Trader – PM (Commodity Hedge Fund)
• Carbon Originator (Global Trade House)​

Market Moves:

• Sarah Behbehani former Senior Vice President of LNG at Jera Global Markets (Singapore), joins Freepoint Commodities (Dubai) as Vice President, Origination and Business Development.
• Miriam Menegatti former LNG Trader at Pavilion Energy (Singapore), joins ExxonMobil (Singapore) as Commercial Manager, LNG
• Sumeet Jadhav former LNG Trading Manager Litasco (Singapore), joins ADNOC Global Trading (UAE) as LNG Trading Manager
• Marco Boldrini former LNG Marketing Manager at Novatek Gas & Power Asia (Singapore), joins ADNOC LNG (UAE) as LNG Marketing Manager
• Espen Selstad former Head of Shipping and Chartering at Novatek Gas & Power Asia (Singapore), joins Maersk Broker (Singapore) as Manager – LNG Carriers
• Chng Kiat Low former Senior Executive, Quantitative Strategies and Optimization at Diamond Gas International (Singapore) joins BP (Singapore) as LNG Trading Analyst
• Boon Hong former LNG Trading Analyst at BP (Singapore) moves internally to assume new role as Gasoline Supply Coordinator
• Andreas Prosinecki former Commercial Development Lead Hydrogen ASPAC at BP (Melbourne), promoted to Head of Hydrogen Commercial Development and Origination ANZ

Sami Jacobs

Consultant

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+65 3165 0710

sami@aurexgroup.com

EA 18S9493 | R2092031