There seems to be a fair number of questions on LNG but not much info. Thought it’d be helpful to do a Q&A.
Have been in the industry for 10+ years. Based in Europe and working as a trader for one of the well-known commodities houses (Glencore/Vitol/Trafi/Mercuria/Gunvor etc).
Will need to preserve my anonymity but ask away!
Start with the basics - make sure you have a good grasp of economics and basic macro concepts. On top of that, keep up to date with the industry. I recommend reading the reports issued periodically by the supermajors (Shell's LNG outlook is excellent) and also the major publications that contain 1) the latest news on the industry and 2) an analysis of current trends.
I'm interested in the physicals space, and was wondering where would you recommend a student start their career to become competitive for a seat at a commodities house? With BB banks reducing their physicals presence, would it better to start at a supermajor or is BB S&T still the most common?
I would agree with the above poster. The graduate programmes at Majors are by far the best option, especially the BP one (although Shell is the undisputed king of supermajors for LNG). They offer you the best training because they are actually designed to make you a trader.
Different story with commodities houses where the majority of traders are laterals (myself included). Even the ones who offer graduate schemes are not that dedicated to home-grow traders. Rather, they are designed to attract good talent with the view to possibly find a good place for them within the organisation later one, if they prove their worth.
If you are dead-set on physical trading then BB S&T is probably not the optimum starting point (unless you don't have more relevant options of course - generally speaking starting your working life at a top institution such as a BB has plenty of advantages!). It's a completely different story from when I started with a BB before/on the credit crunch. Commodities desks have now either diminished completely or been reduced to financial trading.