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In its annual results for 2024, Gunvor said it entered upstream natural gas production in the United States in that year but gave no details. Media reports later said the company had taken a 42% minority stake in Oklahoma-based private producer Flywheel Energy.

Rival commodities traders have also plowed money into U.S. oil and gas production in recent years, using record profits to boost their control of the supply chains for products they trade.

Top global trading house Vitol pledged $1 billion to back VTX Energy Partners in 2022, after launching Vencer Energy, its first U.S. shale venture, in 2020.

Hedge fund Citadel has also been actively acquiring natural gas-producing assets this year.

Dealmaking activity in the U.S. shale industry has slowed in recent months, however, due to declining oil prices, although natural gas has been a rare bright spot.

While analysts expect oil prices to remain under pressure next year as supply growth outpaces demand, the outlook for U.S. natural gas prices is more bullish due to expectations that power-hungry data centers and new U.S. liquefied natural gas plants will boost demand.

Reporting by Shariq Khan and David French in New York; Editing by Edmund Klamann

In its annual results for 2024, Gunvor said it entered upstream natural gas production in the United States in that year but gave no details. Media reports later said the company had taken a 42% minority stake in Oklahoma-based private producer Flywheel Energy.

Rival commodities traders have also plowed money into U.S. oil and gas production in recent years, using record profits to boost their control of the supply chains for products they trade.

Top global trading house Vitol pledged $1 billion to back VTX Energy Partners in 2022, after launching Vencer Energy, its first U.S. shale venture, in 2020.

Hedge fund Citadel has also been actively acquiring natural gas-producing assets this year.

Dealmaking activity in the U.S. shale industry has slowed in recent months, however, due to declining oil prices, although natural gas has been a rare bright spot.

While analysts expect oil prices to remain under pressure next year as supply growth outpaces demand, the outlook for U.S. natural gas prices is more bullish due to expectations that power-hungry data centers and new U.S. liquefied natural gas plants will boost demand.

Reporting by Shariq Khan and David French in New York; Editing by Edmund Klamann