Position SummaryThe Senior Natural Gas Trader - Gulf Coast is a commercially driven, risk-taking trader responsible for building and managing MPC's physical and financial natural gas book across Gulf Coast markets. This role is designed for a high-conviction trader who thrives in fast-moving markets, takes calculated risks within defined mandates, and generates P&L through active position management in physical Gulf Coast basis, prompt spreads, and financial derivatives.
The trader will initially operate within a shared book under the Head of Natural Gas Trading, rapidly building toward an independent trading mandate as performance and market expertise are demonstrated. The role works in close partnership with originators, fundamental analysts, and quantitative analysts to develop and execute commercial strategies.
Primary Objectives- Actively manage physical and financial natural gas positions across Gulf Coast hubs, including Houston Ship Channel (HSC), Katy, Waha, and Henry Hub
- Generate P&L through opportunistic basis trading, prompt spread monetization, storage plays, and financial hedging strategies
- Build and exercise strong commercial judgment - identifying market dislocations, sizing positions with conviction, and managing risk dynamically within VaR/position limits and other allocated LOAs
- Develop toward full book ownership with an independent trading mandate, taking increasing P&L accountability as expertise and track record are established
- Partner with originators, fundamental analysts, and quantitative analysts to integrate market intelligence and model-driven signals into daily trading decisions
Key Responsibilities- Trade physical natural gas across Gulf Coast hubs - HSC, Katy, Carthage, and interconnected pipelines - capturing basis differentials and supply-demand dislocations in day-ahead and prompt markets
- Actively trade financial natural gas instruments - fixed-for-float swaps, basis swaps, options, and structured products - to express market views and manage book risk
- Execute transactions with producers, utilities, marketers, pipelines, and LNG counterparties, building a deep network of Gulf Coast commercial relationships
- Manage an integrated physical and financial book, monitoring net exposure, basis risk, and directional positions across prompt and forward tenors
- Operate within defined risk limits (VaR, stop-loss, position limits), escalating risk events appropriately while maintaining a proactive, risk-forward trading mindset
- Conduct daily MTM reconciliation, position reporting, and P&L attribution in coordination with Middle Office and Back Office teams
- Synthesize fundamental analysis - storage trajectories, domestic NG supply/demand, LNG export demand, pipeline flows, weather - and quantitative signals to generate high-conviction trade ideas
- Evaluate and monetize pipeline transport and storage optionality, including Permian-to-Gulf Coast basis opportunities and seasonal storage spreads
- Collaborate with the Natural Gas Originator to align physical supply & offtake positions with origination strategy and asset optionality
- Partner with scheduling, Middle Office, and Back Office teams to ensure accurate nomination, settlement, and compliance with trading policies
Role Scope and DevelopmentThis role is structured to develop a high-potential trader into full book ownership. The trader will initially operate within a shared book, gaining direct exposure to MPC's Gulf Coast commercial positions, risk framework, and counterparty relationships. As performance and market expertise are demonstrated, the trader will assume increasing P&L accountability and progress toward an independent trading mandate with defined risk limits.
Education and ExperienceSenior Trader- Bachelor's Degree required (Finance, Economics, Engineering, or related discipline preferred).
- Five (5) or more years of experience in natural gas trading, marketing, or commercial development, with direct exposure to Gulf Coast physical and/or financial markets.
Lead Trader- Bachelor's Degree required (Finance, Economics, Engineering, or related discipline preferred).
- Seven (7) or more years of experience in natural gas trading, marketing, or commercial development, with direct exposure to Gulf Coast physical and/or financial markets.
Preferred Experience:- Demonstrated P&L ownership or accountability in a commodity trading environment.
- Strong understanding of Gulf Coast basis markets, pipeline and storage dynamics, and natural gas pricing mechanisms.
- Experience trading or structuring financial natural gas instruments (swaps, basis swaps, options).
- Direct trading desk experience at a natural gas trading company, marketing company, producer, utility, or energy trading firm with Gulf Coast focus
- Familiarity with storage and transport optimization, including seasonal spread trading and pipeline capacity economics
- Experience working alongside fundamental analysts and quantitative tools to inform trading decisions
- Exposure to LNG feedgas demand, Permian-to-Gulf Coast flows, or HSC/Katy basis trading
Skills- Accountability
- Commercial Awareness
- Communication
- Contract Management
- Customer-Focused
- Data Analysis
- Decision Making
- Entrepreneurship
- Mentoring People
- Marketing Strategies
- Negotiation
- Risk Management
- Strategic Planning
Location: Houston
Relocation: Available
Estimated Travel: ~5% (minimal)
This position grade may vary depending on candidate experience. The successful candidate will be placed at a level commensurate with experience and qualifications.
Location:
Houston, Texas
Additional locations:
Job Requisition ID:
Location Address:
500 Dallas St Ste 2900
Education:
Employee Group:
Full time
Employee Subgroup:
Regular
