|
The
move, first reported by Sparkspread, comes amid a reshuffling in
the power and natural gas industry as private equity firms and
hedge funds pour into the space, filling a void left by banks
and other longtime players.
The banks and others have been pulling back over the past
several years as natural gas prices have reached lows not seen
in a decade, due to abundant U.S. shale gas and increasingly
strict capital requirements and regulations that have pressured
banks to reduce their involvement in physical commodities
markets.
Swiss-based commodities trader Gunvor Group Ltd this year opened
a natural gas trading desk in Connecticut, headed by a former
director of natural gas for Freepoint Commodities.
Last September, Hartree Partners lost its head of natural gas
trading, and in May, U.S. investment bank Goldman Sachs Group
Inc snagged Mercuria Energy Trading's head of natural gas and
power trading.
TrailStone already had natural gas and power trading operations
in the United States. TrailStone did not respond to a request
for comment, and Cargill declined to comment.
(Reporting by Catherine Ngai and Liz Hampton in Houston;
additional reporting by Scott DiSavino in New York; editing by
Jonathan Oatis)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
