H-Energy’s Former Dubai-Based LNG Trading Unit Being Liquidated

h energys former dubai based lng trading unit being liquidated

Sumary of H-Energy’s Former Dubai-Based LNG Trading Unit Being Liquidated:

  • Article content (Bloomberg) — A liquefied natural gas trading company that was until recently based in Dubai and part of India Hiranandani Group is being liquidated after it was determined that it can no longer operate, according to a letter to creditors seen by Bloomberg News..
  • The firm defaulted on at least $50 million worth of debt to LNG suppliers including Malaysia Petroliam Nasional Bhd and Royal Dutch Shell Plc, said people with knowledge of the matter..
  • The company took speculative positions on physical and paper LNG trades over the last few years, which strapped them with debt they were unable to repay, said the people, who requested anonymity as the matter is private….

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