(Bloomberg) - MET International, which entered the LNG market in March 2016, has traded 10 cargoes this year vs fewer than 5 last year, György Vargha, CEO of the Zug, Switzerland-based trader, said in a telephone interview.
- Volumes account for about 25% of the company’s physical gas portfolio, cargoes traded mostly in southern Europe
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- Co. trades natural gas across Europe, with 70% of operations in gas and LNG, 25% power and rest is oil
- Co. plans to expand in electricity trading
- “We mostly trade power in Germany and Hungary, where our activities are supported by our CCGT,” as well as in southern and central Europe
- MET Group, parent of MET International, operates the 779MW Dunamenti Power Plant, the largest Combined Cycle Gas Plant in Hungary
- “In France and broadly in northwestern Europe we plan to increase our activities next year”