Glencore, a British–Swiss multinational commodity trading and mining company, agreed to acquire the LNG unit of Orsted, a power company based in Fredericia, Denmark. Financial terms were not disclosed. "Even though Orsted's LNG team has performed well during the last few years, the business has been loss-making and is projected to remain so for years to come. Further financial improvements would require further contractual commitments. With Orsted's global expansion in renewable energy, it is clear that LNG trading will not be a part of Orsted's future core business, and it is therefore being divested," Orsted.