Gunvor is in early discussions to acquire natural gas-producing assets from private energy company Silver Hill Energy Partners in a transaction that could be valued between $1.2 billion and $1.5 billion, according to Reuters sources. The potential deal would mark another significant step in the commodities trader’s effort to establish a broader U.S. natural gas business as electricity consumption from artificial intelligence infrastructure and demand for liquefied natural gas continue to reshape the energy market.

Haynesville Assets Draw Strategic Interest

The assets under discussion are spread across approximately 58,000 net acres in the Haynesville shale basin across East Texas and Louisiana. Estimates from energy consultancy Rystad indicate that the properties produce approximately 370 million cubic feet equivalent per day, giving the potential acquisition meaningful exposure to one of the most important natural gas-producing regions in the United States.

The talks remain at an early stage and an agreement is not guaranteed. However, the potential transaction would provide Gunvor with a substantial upstream position while complementing its existing activities in gas trading and LNG. Oklahoma City-based Western Natural, an oil and gas producer financially backed by Gunvor earlier this year, is expected to operate the assets if the transaction is completed.

Gunvor Builds a Broader U.S. Gas Platform

The proposed acquisition would represent Gunvor’s second Haynesville transaction this year. Earlier in 2026, the company provided capital to support Western Natural’s approximately $300 million acquisition of other Haynesville gas-producing assets, demonstrating a strategy that extends beyond conventional commodity trading.

Gunvor’s broader expansion also includes activity in the U.S. gas and LNG markets. The company agreed to a second long-term LNG offtake arrangement with Delfin Midstream in May, strengthening its access to future U.S. export volumes. Such investments can potentially give commodity traders greater flexibility across production, transportation, marketing and international sales rather than relying solely on trading activities.

AI and LNG Demand Reshape the Gas Market

A major driver behind the renewed interest in U.S. natural gas is the expected growth in electricity demand from AI data centers. Large computing facilities require substantial and increasingly reliable power supplies, supporting expectations for additional natural gas-fired generation in parts of the United States.

At the same time, new LNG export terminals along the U.S. Gulf Coast are expected to create additional outlets for domestic gas. Haynesville has particular strategic appeal because of its high production potential and geographic proximity to major LNG infrastructure. This combination of domestic power demand and export opportunities has encouraged energy companies and commodities traders to increase exposure to U.S. gas resources.

Strategic Expansion Comes With Market Risks

Gunvor’s move reflects a broader trend among major commodities traders seeking greater control over physical energy assets. Vitol and other trading firms have also expanded their interests in U.S. natural gas production and export infrastructure, using their trading capabilities to participate more directly in growing energy flows.

However, the economics of the potential transaction will remain sensitive to natural gas prices, production costs, infrastructure constraints and LNG demand. The Haynesville basin’s attractiveness also depends on continued investment in export capacity and power generation. If the transaction advances, investors and market participants will watch the purchase price, financing structure and operational plans for indications of how Gunvor expects to generate value from the assets.

Going forward, the potential Silver Hill acquisition will be an important indicator of how aggressively commodities traders are positioning for the next phase of U.S. natural gas growth. The combination of AI-driven electricity demand, expanding LNG exports and geopolitical efforts to diversify global energy supplies could support continued interest in U.S. gas assets, while commodity-price volatility and the capital intensity of upstream operations remain key factors to monitor.