Glencore moves crude oil trading leader to head LNG division

International trading firm Glencore moved the head of its crude oil desk Maxim Kolupaev to manage its liquefied natural gas (LNG) division, three traders aware of the move told Reuters on Friday.

Kolupaev, who has been the leader of Glencore's crude oil trading team for more than five years, was recently appointed the head of LNG business division in Glencore that also involves natural gas and electric power markets, the traders said.

Glencore declined to comment on the move. Kolupaev was not available for comment.

Glencore can make a new push to LNG business with the appointment of Kolupaev as the head of the desk, one of the traders said, adding that he is a good team leader and experienced trader.

Glencore has been developing its LNG business since 2013 and has a vast portfolio of deals in the sector worldwide.

Most recently in autumn 2021 Glencore signed an LNG supply contract with U.S. LNG company Cheniere Energy Inc LNG.A.

In June 2021 Glencore also signed a heads of agreement with Russia's Novatek for more than 0.5 million tonnes of LNG supplies per year from Novatek's Arctic LNG-2 project.