Nat Gas News – October 2, 2018
Ex-Citadel Natural Gas Investor Opens New Hedge Fund
Reuters reported: An investor who previously helped oversee U.S. natural gas trading at Citadel has set up his own hedge fund, a person familiar with the plans said on Monday. Ron Ozer, who worked as a portfolio manager and co-head of U.S. natural gas trading at Citadel, has launched Statar Capital LLC to focus on natural gas trades. He worked at Citadel, which currently manages $30 billion, from July 2015 to April 2017. Ozer’s New York-based fund has raised roughly $140 million in assets from family offices and institutional clients, the person who was not authorized to speak publicly about the private fund’s plans said. A spokesman for Statar declined to comment. Statar is starting to trade at a time the United States is awash in natural gas and prices are not expected to rise any time soon. Other energy trading funds have closed this year amid shrinking profits and market volatility, including Houston- based Velite Capital, which was once one of the mostprofitable U.S. natural gas trading shops but began winding down operations two months ago.
CenterPoint Energy Services Expands Natural Gas Services in Illinois
Market Watch reported: CenterPoint Energy, Inc. CNP, – 0.40%today announced that its competitive natural gas sales and services business, CenterPoint Energy Services, has expanded its retail natural gas supply to residential customers and businesses of all sizes in Illinois. The expansion of services, which began this month, builds on CenterPoint Energy Services’ established presence in Illinois where it currently serves more than 6,000 commercial and industrial customers. “CenterPoint Energy Services has a proven track record, having served commercial and industrial customers in Illinois for more than 30 years,” said Joe Vortherms, senior vice president of CenterPoint Energy Services.