MET Group completes first LNG import transaction
Zug, 22 July 2016 – MET International AG (METI), trading arm of MET Group, has successfully completed its first LNG import transaction. METI has purchased a cargo into Italy on a DES basis in mid-July to cover its downstream demand.
“This transaction is perfectly fitting into our strategy to scale up LNG as an additional means of supply into our downstream European portfolio, being also the cornerstone of our LNG strategy,” said György Domokos Vargha, Head of Wholesale & Origination at METI.
METI opened its LNG desk on the 1st of March 2016 hiring Diego Galimberti as LNG Manager. Mr. Galimberti has been working for more than 10 years in the LNG industry.
MET Group currently has a downstream portfolio of 4 bcm in the illiquid parts of Europe such as Mediterranean and CEE regions, which it plans to continuously increase.
About MET Group
MET Group is a leader in the European energy marketing sector. Headquartered in Switzerland, MET is an active participant in the European natural gas, power and oil markets. MET is present in 10 countries through subsidiaries, 25 national gas markets and 21 international trading hubs, with a significant end-consumer presence in Croatia, Hungary, Romania, and Slovakia.
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