(EnergyAsia, March 1 2013, Friday) — Angolan state oil and gas firm Sonangol and a company partly owned by Swiss commodities trader Trafigura said they are planning to jointly establish a new company to trade liquefied natural gas (LNG).

Sonangol’s trading arm, Sonanci, and DT Group, a joint venture trading firm between Trafigura Pte Ltd and Cochan Ltd, will form Sonaci DT Pte Ltd with teams operating from Geneva and Singapore.

Sonanci DT Pte Ltd is expected to play a key role in helping Angola trade and hedge its LNG when its first export plant starts up sometime this year. The 5.2 million ton/year plant is a joint venture between Sonangol and Chevron of the US.

Mrs Rute David, President of Sonaci, said:

“We have an excellent opportunity to build a world class LNG-focused trading business by combining the strengths of our two companies. We intend to source products on the international market as well trading the volumes earned from Angola LNG Market Company’s tenders.”

Mariano Marcondes Ferraz, CEO of DT Group, said:

“Our objective is to apply our expertise and capabilities to become a leading independent LNG trading company. We will also evaluate the acquisition of vessels and other assets to support the business.”