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Redwood Markets and EH Energy to deliver trade credit insurance to the LNG industry

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Hydrocarbon Engineering,

Redwood Markets and One Source Risk Management have chosen EH Energy, a division of Euler Hermes North America Insurance Co., to lead a syndicate of underwriters to handle trade credit insurance for the LNG market through its online trading platform, the Redwood Marketplace.

The new programme will utilise a customised suite of trade credit insurance products to provide trade credit and political risk insurance that will protect transacting counterparties in the event of a failure to pay.

Sellers of cargoes of physical LNG who enter into transactions using the Redwood Marketplace online trading platform will be able to buy trade credit and political risk insurance at the point-of-sale. Buyers benefit from unlocking working capital that may be tied up posting letters of credit.

Ajay Batra, CEO and Co-Founder of Redwood Markets, said: “In order for the physical market for LNG to become liquid, new products and services need to enter the market that make it simpler, more cost-effective and more efficient to trade. Trade credit is an area that is increasingly important in the growing market for LNG, and there are few creative solutions. Products like these, coupled with our online trade confirmation system, simplify the transaction process for traders and help provide a more complete range of risk management products to their firms.”

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