August 2, 2018 / 10:09 AM / 9 months ago

Gunvor to open London trading office, closes Bahamas -sources

LONDON, Aug 2 (Reuters) - Global energy trader Gunvor Group is opening its first London office while closing its trading desk in the Bahamas, sources familiar with the matter said.

The sources said that a natural gas trading team was recently recruited for London.

Swiss-based Gunvor briefly had one trader in London a few years ago but this latest push is on a larger scale.

Natural gas accounted for 23 percent of Gunvor’s traded volumes last year while crude oil accounted for 30 percent.

Some of the company’s Nassau staff, which included five traders, will be reallocated to other offices, including Houston, the sources said. (Reporting by Julia Payne and Oleg Vukmanovic in London and Devika Kumar in New York; editing by Jason Neely)

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