Swiss trader MET Group triples 2025 LNG cargoes, eyes global expansion, executive says

A Swiss energy trader, MET Group, has nearly tripled its liquefied gas cargo import volume so far this season. It expects even greater growth in the years to come as it prepares for expansion outside Europe and capitalises on global LNG demand.

MET delivered LNG in 16 countries during the past year. Its most active markets were Germany, Belgium and the Netherlands. In Asia, MET delivered LNG to China (India), Japan, and South Korea.

"We have already transacted 82 loads this year. In the previous year, we transacted 28 cargoes. By the end of the year, we will have tripled the amount of business that we do.

Sanchez stated, "I'm not wrong to say that our LNG business is among the fastest-growing in Europe.

From Eurocentric to Global

MET's activities are primarily in Europe. It plans to expand the LNG delivery network in the Baltics, Mediterranean region, and Asia over the next 3 to 5 years. Sanchez stated that the company wants to go from being Eurocentric to a global player with a European base.

He added: "In the Baltic Sea for example, we are exploring possibilities of expanding our LNG supply network to other terminals, such as Klaipeda in Lithuania, adding another strategic point to strengthen regional supply security."

Energy trader sets up office in Singapore by 2023, focusing on asset investment and LNG trading.

Sanchez stated that "in the next three to four years, we aim to be recognized globally in the most important markets around the world, which includes Asia." MET Group entered a Heads of Agreement for a 20-year period with U.S. Commonwealth Gas in 2023. In 2024, it signed a 10-year agreement with Shell in order to buy U.S. gas with the intention to grow its LNG portfolio over the long term. (Reporting and editing by Toby Chopra; Marwa Rashad)

(source: Reuters)