MET Group Records 2nd Most Profitable Year in 2023
MET Group claims to have the most geographically diversified LNG import structure in Europe.
MET Group, an international energy company that is based in Switzerland but has Hungarian roots, saw its second most profitable year to date in 2023 with a consolidated revenue of EUR 24.5 billion. The total traded volume of natural gas was 88 BCM and the total traded electricity was 68 TWh. The firm says it aims to develop its LNG business further and provide wide support to energy transition with its newly acquired financial success.
MET Group’s notable 2023 expansions included new solar plants and wind farms with a total generation capacity of 391 MW, a new EUR 1.33 bln so-called borrowing base facility, and three new solar parks in Spain and Hungary (increasing its generation capacity to 391 MW). It also opened an office in Singapore as a part of MET Asia, a subsidiary 90% owned by MET Group and 10% by the Singapore-based global asset manager Keppel. There were new market entries into Switzerland, Germany and Poland and the sales and trading segment also entered the French market.
MET Group claims to have the most geographically diversified LNG import structure in Europe with imports going into eight countries: Belgium, Croatia, Finland, Germany, Greece, Italy, Spain, and the United Kingdom. The group has delivered approximately two million tonnes per annum (mtpa) to these nations over the last two years. Long-term capacities are in Croatia, Germany, and Spain. The company is involved in 30 national gas markets and 22 international trading hubs.
“In 2022, MET showcased its ability to successfully navigate the most turbulent energy markets seen in decades,” says Benjamin Lakatos, MET Group chairman and CEO. “In 2023, the group went on to demonstrate the inherent strength and profitability of its integrated business model in less volatile markets. Looking forward, we will continue to rely on our highly motivated, exceptional, truly international team, to thrive through the energy transition,” Lakatos added.
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