Condensates

Trafigura is a leading international condensates trader. The desk sources both clean and dirty condensate from oil and gas producers and has term off-take agreements in Africa, the Far East, the Middle East, Russia, the former Soviet Union and South America. It uses terminals for blending and building or breaking bulk in the Arabian Gulf, the Baltic region, and the Far East.

We are creating new markets for condensates. Some of our customers previously had no use for this versatile product, but we are finding applications at units such as refineries, splitters, petrochemical plants and power generation facilities.

US legislation to allow the export of condensates is currently under review. We are maintaining optionality for the business. We retained rights to output from the EF90 condensate splitter as part of the sale of our majority stake in the Corpus Christi terminal in Texas. We have now joined forces with Magellan Midstream Partners to build a 50,000 barrel a day condensate splitter at Corpus Christi. This facility is scheduled to open in 2015.