Axpo to Focus on LNG Trading in Asia
Switzerland’s Axpo will open a branch in Singapore at the end of this year to strengthen its presence in the Asian market with the focus on LNG trading, it said on October 1 in a statement.
“Axpo is expanding its international energy trading business further – the company is going to expand to Asia after having established a leading position in Europe in the last 20 years and operating successfully in the US since 2016. In Asia, the focus will be on trading in LNG,” the company said
Sophie Ducoloner will head the new Axpo Singapore subsidiary and will join the company on December 1 2020. She has around 20 years of experience in the sector and is very familiar with the Asian region thanks to her previous positions, Axpo said. Axpo Singapore will focus on trading and delivering a full range of energy solutions, including procuring energy, portfolio optimisation and energy risk management.
“There is a strong demand for energy in general and for LNG in particular in Asia. Many Asian countries are set to grow in LNG in the coming years as they want to do without coal in the future due to climate change and renewable energies cannot be developed quickly enough,” Domenico De Luca, head trading and sales at Axpo, said. "Singapore is the hub for the energy trading activities in Asia. We will strengthen our position in this important growth market by having a new branch there."