Interview with Benjamin Lakatos: MET counts on assets for more value
MET is active in the highly liquid gas markets of northwest Europe; the semi-liquid markets of Austria and Italy; and the illiquid markets of Hungary, Croatia, Romania and elsewhere in the Balkans. It trades at 22 hubs and its revenue from trade and supply in 2019 was €11.2bn. Last year it traded 50bn m³ of gas, which was mostly bought on the spot market.
But some came directly from producers and other suppliers. MET is also a client of Rout4Gas: “We are happy to explore all solutions providing access and liquidity to the markets,” says CEO Benjamin Lakatos. About 60 of the staff are part-owners of the enterprise. “The profit motive is a powerful one: everyone suffers if one person underperforms,” he says. It is 20% owned by Singapore’s Keppel.
Its purchase of German storage and LNG import capacity rights in Croatia reflect Swiss trader MET’s interest in owning integrated assets in an uncertain trading world.
With its origins in Hungary’s state monopoly MOL, Swiss-based trader MET entered the European gas market in 2007 almost fully fledged. CEO Benjamin Lakatos was head of MOL’s gas contracts division at time when they were all long-term. This gave insights into the flexibility of the delivery terms such as volume, he told NGW in a January interview.
To read the full interview click here: Natural Gas World