At the turn of the year, the giant Swiss wholesale trader of gas and electricity, MET Group, entered the Czech market. Its revenues last year were around half a trillion CZK. However, households won't encounter it for now, as the company primarily targets industrial companies.
Original article in Czech: Forbes
"We already have customers for 2026, 2027 and 2028, which brings me great joy after just a few months" says Pavel Balada, head of MET Czech Republic, in another Forbes Business podcast.
Pavel Balada has been with MET Group for ten years, spending the last decade mainly in Switzerland. Within the company, he managed the development of new markets such as Italy and Turkey. However, due to his new role as the head of the Czech subsidiary, he will increasingly return to the Czech Republic.
"What we want to do is bring best practices from all the surrounding countries where we already operate and at the same time offer larger customers more structured products" – his explanation of the strategy for entering the Czech market.
MET Group does not only trade in pipeline natural gas, but has also been increasingly focusing on its liquefied form, LNG, in recent years. It delivers thirty LNG tankers to Europe annually.
"The advantage of LNG ships, especially modern ones, is that they are not powered by heavy fuel oil, like many other ships in the world. Instead, they are largely powered by the very liquefied natural gas that is regasified directly on the ship" Balada responds to studies pointing out the significant carbon footprint of these ships.
"Compared to crude oil, there is a roughly thirty percent emissions saving, and even more compared to heavy fuel oil," he adds.
What are MET Group's business goals in the Czech Republic? Where does it source its gas, and is there enough on the global market? Does MET Group have the strength to reduce energy prices? Listen to all this in the podcast.