JPMorgan looks to resume trading physical LNG, Bloomberg News reports

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October 23, 2024 1:01 PM EDT

FILE PHOTO: FILE PHOTO: A person enters the JPMorgan Chase & Co. New York headquarters in Manhattan, New York City, U.S., June 30, 2022. REUTERS/Andrew Kelly/File Photo/File Photo

(Reuters) - JPMorgan Chase is in talks to resume trading physical liquefied natural gas (LNG) after more than a decade, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The bank has had talks with at least three projects under development in the Gulf Coast to get a long-term LNG supply, the report said.

The bank and developers are in discussion to build a project to liquefy and export gas in Commonwealth LNG site in Louisiana, Sempra Energy's under construction site in Texas and Energy Transfer facility in Louisiana, the report added.

Energy Transfer did not immediately respond to Reuters requests for comment.

JPMorgan, Sempra and Kimmeridge Energy Management, which owns Commonwealth LNG, declined to comment.

(Reporting by Pretish M J in Bengaluru and additional reporting by Vallari Srivastava; Editing by Savio D'Souza and Mrigank Dhaniwala)


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