Global commodities trader Gunvor Group Ltd. has secured a 400 million euro loan ($437 million) backed by the Italian government to buy more natural gas and LNG for industrial consumers in the country.

The five-year term loan guaranteed by Italy’s export credit agency, Sace SpA, is aimed at supporting Italian industry with energy supplies to fuel production of Italy’s goods and services for consumption abroad. 

The loan is another in a series backed by governments across the world to help fund natural gas and liquefied natural gas purchases after energy flows were upended last year when Russia invaded Ukraine. 

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