Danish energy trader Goldman-backed targets US gas expansion after results plummet
The founder and chairman of Danish energy trader InCommodites said that the group, which is backed by Goldman Sachs?, will expand into the U.S. gas market.
The company reported on Monday a profit of EUR2,95 million ($3.41million) for 2025, down from EUR72.5 millions the previous year. This is far below its stated forecast of EUR85-195 million.
Jesper Johanson said that the drop in earnings was due to?lower volatility, tighter trading margins and investments?into their trading infrastructure, and expansion into the United States and Asia. This process will continue, he added.
He added that in 2026 the war in the Middle East had increased the uncertainty and altered the market dynamics. This has raised the earning potential, but also created new risks.
We are planning to expand our physical gas trading business in North America this year and next. Johanson stated that this was a major deal for the company.
He said that as global energy flows became more interconnected, especially due to liquefied gas (LNG), a physical presence on the market was important.
We are also looking at expanding our power purchase agreements (PPAs) in Europe for solar, wind and batteries. He said that we also consider Asia Pacific, including Australia, New Zealand, and Japan as important markets on the PPA side.
Goldman Sachs, along with some other investors, owns 15% of InCommodites. $1 = 0.8643 euro (Reporting and editing by Terje Solsvik).
(source: Reuters)
