Two former head of commodities at French banks BNP Paribas and Crédit Agricole are teaming up to launch a London-based energy hedge fund.

Online energy news service SparkSpread reports that Jean-Marc Bonnefous, former global head of commodities at BNP Paribas, and Bruno Syrmen, former head of commodities at Crédit Agricole, hope to launch the fund in January. Market sources said the fund, which is called Telurian, will focus primarily on oil and gas.