MET Group Widens its Hold into the APAC Region

Swiss energy company MET Group has extended its presence into the Asia-Pacific (APAC) region by establishing a new office in Singapore. Operating under the name MET Asia Pte. Ltd., this subsidiary, primarily owned by MET Group (90%) and with a 10% stake held by Keppel, aims to expand MET Group's business activities in the APAC region.

The newly established office will facilitate the growth of MET Group's liquefied natural gas (LNG) portfolio, extending it beyond Europe, and also support the company's asset investments in the region. MET Group recently formed a joint venture (JV) with Keppel, known as Keppel MET Renewables, to enhance its business operations in Asia. Keppel is a 10% shareholder in MET Group.

Sándor Fasimon, an experienced international energy manager, will lead MET Group's operations in the APAC region as the CEO of MET Asia. The company's expansion into the region aligns with the growing demand for LNG, driven by factors such as increasing energy needs, urbanization, industrialization, and a shift towards cleaner energy sources. Countries like India, China, and Pakistan are expected to experience surges in LNG demand due to rapid industrialization, while established LNG importers like Japan and South Korea are anticipated to maintain stable demand.

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MET Group's entry into the APAC market follows a series of strategic moves throughout the year. This includes the acquisition of a solar development project in Italy through Keppel MET Renewables in June, as well as the acquisition of a 100% stake in another solar development project, expanding the company's presence in the German renewables market. In August, MET Group also entered the French market through its subsidiary MET France, demonstrating its commitment to growth and diversification in the energy sector.

According to the article by Procurement Resource, Swiss energy firm MET Group has expanded into the Asia-Pacific region by establishing MET Asia Pte. Ltd. in Singapore. This subsidiary, primarily owned by MET Group (90%) and Keppel (10%), aims to grow MET Group's liquefied natural gas (LNG) portfolio beyond Europe and support asset investments in the region. Sándor Fasimon will lead operations in the APAC region as CEO of MET Asia. The move aligns with increasing LNG demand in countries like India, China, and Pakistan due to industrialization and cleaner energy trends. MET Group's entry into APAC follows strategic moves, including solar project acquisitions and entry into the French market.