JPMORGAN COULD RESUME LNG TRADING AFTER 10-YEAR HIP

U.S. bank JPMorgan Chase is in talks with oil and gas companies to resume trading in liquefied natural gas (LNG), after exiting the commodities business in 2014, Bloomberg reports, citing sources.

According to him, the bank is discussing with oil and gas producers the possibility of building three companies on the Gulf Coast. Specifically, we are talking about two projects in Louisiana and one in Texas. He notes that the bank intends to liquefy the gas and export it abroad.

JPMorgan inherited Bear Stearns' commodities trading platform after its acquisition during the 2008 financial crisis. However, in 2014, JPMorgan sold off most of its commodities division amid tightening U.S. regulations in the sector.

Previously, the U.S. Department of Energy reported that the United States exported 323.9 billion cubic meters (bcm) of LNG in July 2024. ft (about 9.17 billion cubic meters), which is 7.3% less than the same month last year, the monthly report said. At the same time, European countries are not among the top five recipients of American LNG, with China taking the first place.