Division 02
Gas & Power
Gaseous and liquefied energy, quoted on the delivery basis that matches your terminal rather than ours — and only where the receiving infrastructure can actually take it. Three desks that trade, and one we say plainly is not open.
The division
In this division, the infrastructure decides the trade.
Everywhere else on our book, a cargo that meets the specification can usually find a home. Gaseous and liquefied energy does not work that way. These products are held under pressure or at cryogenic temperature, and the receiving installation either can take them or cannot — a gap that no commercial negotiation closes.
So the first questions here are physical rather than financial. Is your terminal pressurised or refrigerated? Does the cargo sit inside your grid's calorific value band? Is the vessel approved for your berth, and do you hold a window? A price quoted before those are settled is a number without a trade behind it.
The second characteristic of this division is that one of its four products is not yet real. Hydrogen has a page because buyers are planning around it, and that page says clearly that we are not selling it. We would rather publish an honest not-yet than a capability we cannot deliver.
The desks
Four products, three of them trading.
LPG
Commercial propane and butane, C3/C4 mixes, EN 589 autogas and petrochemical feed. Built around the reception regime — pressurised, semi-refrigerated or fully refrigerated — and around odourisation, which is irreversible and decides which markets a cargo can serve.
LNG
Full and partial cargoes, DES or FOB. Sold as an energy quantity that is calculated rather than metered, with the destination's Wobbe and calorific value band and the ship-shore compatibility established before the fixture.
Methanol
To the IMPCA Reference Specification, as parcels and ISO tanks. The rare product where the specification is not the argument — so the attention goes to water, dissolved iron and what the tank held before.
Hydrogen
Desk in development — not offered. The page sets out purity grades to ISO 14687, carbon intensity against the colour vocabulary, the RFNBO certification tests and the delivery forms, for buyers planning two to five years out.
Across the division
The three things that do not change by product.
Reception compatibility first
Storage type and temperature, discharge arm, berth and parcel limits are established before a price is quoted. Where a cargo cannot physically serve a terminal we say so at the first reply rather than working the enquiry. On liquefied gas this is a safety matter before it is a commercial one, and it is not something to be split down the middle.
Inspection and custody transfer
An agency is appointed for the cargo — SGS, Bureau Veritas or Intertek — instructed jointly, with sampling under supervision. On liquefied gas, sampling and quantity determination are procedures with their own failure modes, so the method, the governing figures and the reference conditions are named in the contract rather than left to each terminal's habit.
Origin screening
Counterparty and origin are screened per consignment, not once at onboarding. Where an origin cannot be cleared we decline at enquiry rather than at fixture, and we do not refer the cargo onward — see Compliance.
Technical Library
Specifications are released, not published.
Composition data, custody transfer procedures, test-method schedules and product datasheets sit behind an identified request.
This is deliberate. A published specification reads as a standing offer, dates the moment a cargo changes, and gives a counterparty grounds to hold us to a figure we never quoted. Tell us what you are evaluating and we will send the actual document.
Enquiries
Every enquiry is answered by the desk that handles it.
Send the product, quantity, delivery basis, destination and timing. We revert with availability, an indication and the documentation that accompanies it. Specifications are released once we know who we are speaking with.