Axpo Rebrands Trading Arm

Swiss utility Axpo has rebranded its trading arm as Axpo Solutions, it said October 1.

Since the end of September 2018, Axpo Solutions has been the new name (previously Axpo Trading) under which its international customer business, foreign renewable energies, and energy trading – which it terms as its "growth businesses" – have been conducted. Axpo announced the division's name change back in December 2017. 

In May 2018 the company entered into a term-sheet with Canada-based Pieridae Energy for LNG supplies from the latter's planned Train 2 at Goldboro for sale to Europe, but has not said how much it would buy. Some reports say Axpo plans to offtake 2.5mn metric tons/yr starting 3Q2023.  It also expects to start lifting term some Azeri gas from Shah Deniz 2 starting 2020 but has declined to disclose the annual volume to NGW.  Axpo has a 5% equity stake in the Trans Adriatic Pipeline (TAP) that will form the final leg of infrastructure to deliver Azeri gas from Turkey to the EU.

Axpo sold 1.2mn mt of LNG in 2017 sourced from various suppliers, which mostly went to Asia.