Taleveras has become the first African independent gas trading company to secure a term deal with a Mont Belvieu-based LPG facility for the export of liquefied petroleum gas starting in the first quarter of 2021.
According to market sources and advisors on the deal, the propane and butane will be exported in VLGC volumes.
US cargoes are mainly propane-heavy with butane normally making up 20% of the volume.
US exports can also comprise evenly split cargoes or 33,000mt of propane and 11,000mt of butane.
This news report comes at a time when distortion in supply and distribution dynamics is pushing propane industry leaders to ponder the potential impacts on marketers’ ability to serve customers reliably this winter.
LPG has become a critical driver of Taleveras’ ambitious growth plans – as well as alternative energy.
According to news reports by Bloomberg, Taleveras is venturing into biofuels, and has joined a growing list of leading global trading firms increasing their presence in the liquefied natural gas market – raising its delivery volumes by almost 30% year on year.
An energy analyst in London said “Taleveras, which only recently started trading LNG, is already cornering significant market share and is making its weight felt in the industry.”
Taleveras, which has consistently been on the radar of many industry watchers and analysts since its incorporation in the late ‘90s, has had to navigate innumerable challenges in the ever-volatile oil and gas industry.
Today, Taleveras is increasingly gaining a respected position as a resilient company that keeps thriving on in the oil markets.
Taleveras, one of Africa’s leading integrated energy conglomerates, was founded by Nigerian entrepreneur Igho Charles Sanomi II.
The company operates and invests in the upstream, midstream, downstream and power sector of the energy industry and has offices across Africa, Geneva, London and the United Arab Emirates.
A top oil industry analyst, who preferred not to be named, stated that: “The oil and gas industry, especially when you are contracting with sovereign states, could be tricky as it’s difficult to avoid the politics and the associated negative perception.
“Taleveras has had its fair share of public perception problems, but the major talk in the industry is about how they are navigating through everything positively, and diversifying their business in the global markets.
“If they can sustain this growth and overcome it all, it will surely be one for the books.”