On Wednesday, Danish energy group Orsted announced that an agreement to divest its liquefied natural gas (LNG) business to trading house Glencore has been reached.
The divestment will help Orsted to focus on growing its renewable energy sector as the LNG business has been making a loss to the company. The deal will include a payment from Orsted to Glencore.
The divestment will expand its 2019 provision but would not affect its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance this year.
