The signing ceremony was held by ADEX in Abu Dhabi, under the direction of His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Export Executive Committee, ADEX. On behalf of BGN, the agreement was signed by Deia Markova, Executive Director, Finance, ESG and Strategy. First Abu Dhabi Bank PJSC (FAB) acted as Sole Coordinator and Sole Bookrunner on the transaction.

“This landmark transaction led by ADEX and FAB, builds on BGN’s longstanding partnership with leading regional and international financial institutions, and further demonstrates the trust and confidence that our financial partners place in BGN,” said Rui Florencio, BGN Chief Financial Officer. “This significantly increased finance facility will enable BGN to achieve its growth and diversification strategy as we expand our business into new sectors including LNG, critical minerals and metals.”

The deal is supported by a further 14 lenders from the Middle East, as well as financial institutions from Mauritius, South Africa and Taiwan. Among the participating banks are: Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Commercial Bank of Dubai, AfrAsia Bank, National Bank of Ras Al Khaimah, SBM Bank, BCP Bank, Emirates NBD Bank, Nedbank Limited London Branch, Arab Bank, First Commercial Bank, National Bank of Fujairah, United Arab Bank, and Ajman Bank.

The deal was significantly oversubscribed, reflecting strong lender confidence in BGN’s trading strength and growth strategy.

“The successful expansion of this facility reflects ADEX’s continued commitment to enabling UAE-linked companies to scale globally and strengthen their competitiveness across international markets,” said Khalil Al Mansoori, ADEX Executive Director. “This transaction demonstrates the confidence of a broad base of regional and international lenders in BGN’s business model, while also underscoring ADEX’s role in mobilizing strategic capital that supports trade flows, diversification, and the development of future-focused energy value chains.

HMMB INT Shipping Pte. Ltd is equally funded by HMM and B-International Shipping & Logistics, each holding a 50 percent stake. The JV will operate two very large gas carriers (VLGCs) under a 10-year contract with the option to extend by five years. The energy and commodities trading strength of BGN Int DMCC ensures long-term operational stability.

“BGN is pleased to be in partnership with HMM, who bring operational excellence and expertise,” said Ozan Turgut, Director of Shipping, B-Shipping. “We share a mutual vision to decarbonize the maritime industry and our shipping operations. The delivery of these two vessels underlines BGN’s vision to sustainably grow our LPG business, expand our global reach, and add value for our customers, as we also contribute to the energy transition.”

Both VLGCs are under construction at HD Hyundai Heavy Industries and are scheduled for delivery in the first half of 2027.

“This joint venture marks a strategic move to actively respond to the growing demand for gas transportation and sets the stage for future collaboration in low-carbon and environmentally sustainable energy logistics,” an HMM official said.

In his address, the President highlighted the opening of a CEEC office (Centre for Expertise, Evaluation, and Certification of Precious and Semi-Precious Mineral Substances) in the U.S., a strategic initiative designed to facilitate direct sales and enhance national value addition for the country’s mineral resources.

This initiative is a key component of the strategic partnership agreement signed on July 30, 2025, between BGN INT US LLC, and the DRC government’s CEEC. This partnership establishes the International Multi-Commodity Center, HOLDCO IMCC, the DRC’s first direct marketing and purchasing platform for critical minerals and metals, which will strengthen the country’s economic sovereignty and support its role in the global energy transition.

BGN is proud to provide the digital technology platform to support the CEEC and the Congolese Government’s objectives. This partnership strengthens the DRC’s economic sovereignty and control over its mineral wealth and will play a pivotal role in advancing national infrastructure and capturing greater value from the country’s natural resources.

HOLDCO IMCC is based in the U.S. with operational support and mineral collection anchored in the DRC under the full supervision of Congolese regulatory institutions. BGN remains committed to supporting the DRC in realizing the country’s visionary ambitions and in building a transparent, sustainable, and value-added mining sector that benefits the country and Congolese people.

Learn more here: BGN Partners With DRC Government To Launch Digital Commodity Center – BGN

Energy trader BGN is set to expand its fledgling natural gas business into a global portfolio with stakes in plants, vessels and pipelines.

The push comes as the market for liquefied natural gas is set to boom, with US exports ramping up and Qatar, another major producer, also adding output. While that’s likely to push prices lower, the wave of extra supplies is poised to create new trading opportunities.

The firm is in talks to buy LNG on contracts as long as 15 years, as well as equity in U.S. export plants, the company’s co-heads of LNG, Ruben Mosquera Arias and Maria Eugenia Suardiaz, said in an interview in Istanbul on Thursday.

BGN got its start in the market for liquefied petroleum gas and has amassed a fleet of about 40 ships. In recent years, it has expanded rapidly into crude, oil products and metals.

“In LNG, we would like to be present globally as well, from the Atlantic basin to Asia Pacific,” said Suardiaz, declining to provide details on the volume they plan to handle.

Producers are set to add a record 300 billion cubic meters of annual export capacity by 2030, the International Energy Agency wrote last month in a report. That’s poised to reshape the market after years of scarcity.

“We want to capture this wave,” said Mosquera Arias.

The company is also applying for licenses to buy capacity in European pipelines. It expects to take delivery of its first newbuild LNG carriers in the next two years, although the executives declined to provide more details.

BGN started its LNG team in 2024 and sold spot cargoes to both Egypt and Germany earlier this year. In the summer, it struck a deal to supply as many as 42 shipments to the North African country, where it’s already a major LPG supplier.

Mosquera Arias and Suardiaz joined BGN from Spain’s Repsol SA. Two more traders have since joined them, and the plan is to add headcount, they said without elaborating. Its main hubs are Geneva, Dubai, Singapore and Houston.

“Diversification is important for us,” said Mosquera Arias. “If the opportunities to invest are good, we can go. We are open to anything.”

The partnership will combine XCF’s scalable SAF production model with BGN’s global marketing and logistics network to create an efficient supply chain from feedstock to finished fuel. The agreement includes plans for offtake and co-branded distribution, as well as joint development of renewable fuel capacity.

Aligned with this initiative, BGN has joined the International Air Transport Association (IATA), reinforcing its commitment to accelerating SAF adoption across the airline industry.

Cenan Ozmeral, President of BGN INT US LLC, said:

“We are pleased to be partnering with Houston-based XCF in this exciting venture. BGN and XCF share a common goal to expand access to renewable fuels and accelerate the decarbonization of the aviation industry. Together, we aim to combine XCF’s scalable production model with BGN’s marketing and distribution network to create a seamless, efficient supply chain from feedstock to finished fuel. This collaboration marks a major step toward making SAF practical and commercially viable for airlines striving to meet decarbonization targets.”

Chris Cooper, CEO of XCF Global, added:
“Partnering with BGN enables us to expand our global footprint and accelerate commercialization of renewable fuels.”

BGN continues to invest in solutions that support the energy transition and reduce emissions in hard-to-abate sectors.

The collaboration underscores both companies’ commitment to building a robust global supply chain at a time when demand for SAF is expanding rapidly. According to IATA, airlines will need approximately 165 billion gallons of SAF annually by 2050 to meet net-zero emission targets. Meeting this demand would require the construction of up to 7,000 new facilities worldwide.

This appointment marks a significant milestone in BGN’s strategic expansion and portfolio diversification into critical minerals and metals essential for the global energy transition.

Claire Blanchelande has an impressive track record holding senior trading positions within the metals and mining industry, including 14 years at Trafigura where she was most recently in charge of launching and managing their Lithium trading division. In her new role as Global Head of Metals, for the BGN Group, she will use her proven leadership and extensive knowledge of the metals sector to help BGN achieve its ambition to build a world-class metals trading platform for the sector.

Ms. Blanchelande is the latest in a series of senior hires, in line with BGN’s people strategy drawing from the top talent across the energy and commodities sector globally. Blanchelande’s appointment also furthers BGN’s industry-leading target to achieve an even gender divide in senior management.

Read more in Bloomberg: https://www.bloomberg.com/news/articles/2025-10-07/bgn-hires-trafigura-s-ex-lithium-head-to-build-up-metals-trading

Following delivery through their joint venture, ABGC DMCC, Merak has begun her first voyage to the US Gulf to load her initial shipment of propane and butane. The vessel has a capacity of 86,423 CBM and underscores the strong collaboration between the two partners in advancing maritime solutions and expanding dual-fuel fleet capacity.

ABGC DMCC anticipates the arrival of two new carriers currently under construction from its order placed in 2023: a VLGC from South Korea’s Hyundai Samho Heavy Industries, expected in November 2025, and an LPG/NH3 carrier from Japan’s Kawasaki Heavy Industries, scheduled for delivery in October 2025.

BGN continues to invest in a state-of-the-art, dual-fuel, energy-efficient fleet capable of operating on both traditional fuels and lower-emission alternatives to ensure our transport operations are in line with the IMO 2023 decarbonisation goals.

At BGN, we ensure reliable and efficient distribution of our products through our strong global supply chain. With one of the largest VLGC fleets in the sector, our dedicated maritime team has extensive shipping knowledge and reliably and cost-effectively moves 50 million metric tons of commodities each year.

Rüya Bayegan, BGN group CEO, commented:

“We are pleased to be taking delivery of Merak, the third VLGC in our strategic partnership with Al Seer Marine. This state-of-the-art vessel adds to our growing fleet of dual-fuel gas carriers capable of operating on both traditional fuels and lower emission alternatives and underlines our commitment to contributing to industry-wide decarbonization efforts.”

“With its advanced capabilities, the Merak also supports BGN’s strategic ambitions as we build on our success in the LPG market and scale our operations to expand into LNG and ammonia trading, which has always been a key objective in our growth plans.”

Guy Neivens, Chief Executive Officer of Al Seer Marine, said:

“From the outset, we recognised the significant role of alternative fuel shipping in the transition of the global energy supply. Driven by this insight, we have shaped our strategy around fleet and cargo diversification to meet evolving market demands.”

“This well-founded approach is reflected in the strong financial results for the first half of 2025, with a 20.2% increase in operational revenues and an 81.7% rise in gross profit. With the recent delivery of Merak, we reinforce our position at the forefront of holistic maritime solutions.”