MET Group sets up LNG trading office in Singapore
(Reuters) - Switzerland-based energy trader MET Group said on Wednesday it has set up an office in Singapore to focus on LNG trading as well as asset investments in what will be its first office in Asia.
MET's Singapore subsidiary will be 10% owned by Singapore-based Keppel. The two companies also have a joint venture entity to explore renewable energy opportunities in Europe.
"Keppel and MET will seek to broaden this cooperation in Asia as well," MET said in a statement.
MET's activities include wholesale and retail distribution of gas and power generation in France, Germany, Italy, Spain, Hungary, Switzerland, Croatia, Romania, Slovakia, Bulgaria, Serbia and Turkey.
It imported more than 30 terawatt-hours (TWh) - or around 2.3 million tons - of LNG in 2022. Its total traded volume of natural gas amounted to 109 billion cubic meters (bcm) last year, while total traded electricity was 67 TWh.
Last month, MET signed a 20-year preliminary agreement with Commonwealth LNG to buy supplies of the fuel from the U.S. company's facility currently under development in Cameron, Louisiana from 2027 onwards.
It has also this year secured long-term LNG supply capacity in Germany and expanded its spot supply capacity reach to Finland.
Related News
Related News
- Shareholders’ Resolution: MOL to pay $668-MM dividend
- Credit Agricole says it will not fund two major LNG projects
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks
- TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision
- Technip Energies awarded a major LNG contract for the North Field South Project by QatarEnergy
- Shell publishes Energy Transition Strategy 2024
- QatarEnergy to charter 19 new LNG vessels expanding fleet further
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Mabanaft announces successful acquisition of WESTFA Energy GmbH
Comments