MAXIMISING OPPORTUNITIES WITH LPG ADVANCING TRADE The Trafigura Group is one of the world’s leading international commodity traders. With a turnover of USD127.6 billion in 2014, the Group has 65 offices in 36 countries on six continents. Trafigura has helped transform the worldwide marketplace for international commodities. For the last two decades, we have been connecting our customers to the global economy, and growing prosperity by advancing trade. TRAFIGURA GROUP ASSETS Trafigura’s core business is physical trading and logistics. Our trading divisions source, store, blend and deliver oil and petroleum products as well as metals and minerals. GY The global terminals operator that provides port, warehousing and multi-modal logistics services for the movement of essential commodities. METALS AND MINERALS TRADING Y DR G H EI FR T OIL AND PETROLEUM PRODUCTS TRADING M IN I N G GROU P W ET F R E IG H T Active in Africa, Europe and South America, the group invests in mining concerns that complement Trafigura’s trading activities. TE LA PA ALS IM M IN R P EN U M ER A ENA A SSET GA L AGEMENT N MA A joint venture focused on Angola and Southern Africa with interests spanning trading, shipping infrastructure, asset management, logistics and mining. D GR T OU P An industrial investment of Trafigura with substantial storage capacity at midstream level and downstream retail presence in strategic locations. A wholly owned asset management company that provides investors focused on the commodities sector with specialised alternative investment solutions. $127.6bn 120.4mmt 49.1mmt * Group revenue Oil and Petroleum products total volume traded *Million metric tonnes. **Average number of employees over the year. All figures quoted are correct as of 30 September 2014, unless stipulated otherwise. Metals and Minerals total volume traded 5,326 Employees worldwide** MARKET STRENGTHS AND CAPABILITIES Trafigura is a global leader in the Liquefied Petroleum Gas (LPG) industry. We specialise in logistics and invest in physical assets to achieve economies of scale and guarantee reliability of supply. We operate in all segments, from the large cargo arbitrage business and the supply of large-scale customers, to small tailored logistical platforms with bulk breaking capabilities for clients that operate in restricted environments. Our traders link major production areas in the US Gulf, South America, Caribbean, Middle East, Africa, North Sea and the Mediterranean with demand from Asia, Northwest Europe, Latin America and the Caribbean. We supply territories where bottled gas and high volume industrial usage is required. We are especially active in West Africa, the Caribbean and Latin America. We work closely with dedicated LPG chartering specialists and oversee a wide range of tonnage. SHIPPING The LPG market is evolving rapidly with advanced drilling technologies opening up new sources of LPG supply derived from Shale gas. Trafigura was quick to recognise that limited export capacity for LPG in the US would restrict the possibility for this new source of supply to be delivered to the global market. In 2012, we acquired the Texas Dock and Rail terminal asset in Corpus Christi, Texas and began construction of an LPG gathering, storage and export facility. The LPG assets are already operational and the terminal is in its first stage of development. In 2014 Trafigura sold 80 percent of its share in the Corpus Christi terminal to Buckeye Partners L.P., retaining a 20 percent ownership stake and the long-term commercial rights to use the terminal. TRADING In 2014 we physically traded 2.7 million metric tonnes of LPG with traded volumes expected to double in 2015. A strong logistical system supports our trading activities. Trafigura operates a large and rapidly evolving fleet of LPG carriers covering all segments from small pressurised barges to Very Large Gas Carriers (VLGCs). Effective vessel rotations and high trading volumes allow us to respond quickly to changes in the market and more importantly, to meet the specific requirements of our clients. In addition, with our strong desire to maintain long-term growth and sustainability in the LPG sector, we have begun to take an active role in ownership of LPG vessels. Our strength is creating logistical systems and synergies thus improving economics and allowing savings which are passed on to our clients. INFRASTRUCTURE We lease tankage at strategic locations and supply Puma Energy’s LPG terminals throughout the world. Trafigura owns 48.7% of Puma Energy, which in turn, owns and operates 79 bulk storage terminals. We work closely and share expertise in design, engineering, construction and operations for all infrastructure projects that we undertake. We design, finance, build and operate terminals in conjunction with structuring reliable and efficient supply systems to provide full turnkey solutions for our clients. LPG as a source of energy in power generation is a promising new market and we have partnered with TEI Energy which owns and operates power stations across Europe and brings decades of experience in this field. Subsequently we have worked together on various projects to convert power plants from diesel to propane consumption. FINANCE Our solutions can be combined with product supply agreements and can be tailored to include all financing in advance with CAPEX repayment in the product supply agreements, therefore liberating working capital for our clients. Trafigura has access to over USD46 billion of credit lines from a pool of more than 135 banks across the world. RESPONSIBILITY As a leading commodities trading company, we act as partner to nations, corporations and communities. We’ve built our success through long-term partnerships. We aim to generate lasting shared value while earning the trust of those around us through responsible practices and behaviours. It is our responsibility to maximise the positive impacts and mitigate any adverse consequences as much as possible. 2.7mmt Total volume traded of LPG in 2014 SUCCESS IN CORPUS CHRISTI Trafigura has remained at the forefront of commodity trends, adapting and capitalising on shifts in the US energy market. In only a few years, Trafigura has become a key conduit for domestically produced crude and, in particular, for exports of LPG. Trafigura invested close to USD1 billion to optimise infrastructure and multimodal access capabilities at the Port of Corpus Christi, Texas. The development links domestic oil and gas supply in South Texas to growing foreign markets and includes a deep-water, high volume marine terminal located on the Corpus Christi Ship Channel, a condensate splitter, an LPG storage complex and crude gathering facilities. The terminal’s LPG export facilities were designed by Trafigura’s LPG traders for maximum flexibility and with the needs of international customers in mind. Upon completion, Trafigura will be exporting international grade low-ethane propane as well as purity and commercial butanes, with the capability of blending all of these products to individual customers’ needs on a customer-bycustomer basis. The terminal will have the LPG storage facility at Corpus Christi capability to load fully refrigerated, semirefrigerated and pressurised vessels of all sizes ranging from pressurised inland barges all the way up to the largest ocean-going VLGCs. To accomplish all this, the facility will have over one million barrels of refrigerated and pressurised LPG storage fully capable of handling all products. The export facility includes two inland barge docks as well as three private deep-water docks with 45 foot draft allowing for maximum transport of materials. The deep-water docks can handle ships up to Aframax size and can berth and load three ocean-going vessels and two inland barges simultaneously. The Port of Corpus Christi is in the final planning stages of a project to raise the Corpus Christi Harbour Bridge by 2017 at which point the terminal will be capable of berthing even larger vessels. GLOBAL PRESENCE Supported by offices worldwide, our LPG traders operate from key regional offices in Houston, Geneva and Singapore. We distribute a range of LPG products to customers all over the world through our vast terminal network. Our global presence and advanced logistics allow us to move high-quality LPG products, tailored in blend and delivery method to where they are needed. LPG STORAGE HUBS ARGENTINA BENIN COLOMBIA ESTONIA NICARAGUA PUERTO RICO SENEGAL UNITED STATES TRAFIGURA’S LPG TRADING OFFICES TRAFIGURA’S KEY TRADING LOCATIONS COUNTRIES WHERE TRAFIGURA IS PRESENT IN LPG Trafigura Pte Ltd 10 Collyer Quay Level 29 Ocean Financial Centre Singapore 049315 Email: [email protected] www.trafigura.com TD/0100.2e Trafigura Beheer B.V. and the companies in which it directly or indirectly owns investments are separate and distinct entities. In this publication, the collective expressions ‘Trafigura’, ‘Trafigura Group’, ‘the Company’ and ‘the Group’ may be used for convenience where reference is made in general to those companies. Likewise, the words ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used in some places to refer to the companies of the Trafigura Group in general. These expressions are also used where no useful purpose is served by identifying any particular company or companies.
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