EDF Trading Makes Hire, In Talks with Jera
EDF Trading, wholly-owned by French power giant EDF, said December 7 it has appointed Carsten Sterz as its head of power and gas flow trading in Europe, a new position based in London.
Sterz will be responsible for all power and gas flow activities and expanding EDF Trading’s customer base. He joined EDF Trading December 1 and reports to Marcello Romano, EDF Trading's head of trading in Europe. For the previous 16 years, Sterz was a trader at London-based commodity traders Hartree Partners (2002-17) and a manager at Enron Europe (1998-2001), where Romano also worked at that time, and has experience of gas, power, oil, CO2 and foreign exchange trading strategies. EDF Trading's head office is in London.
Meanwhile Reuters reported December 6 that the world's largest LNG buyer, Jera, had confirmed it is in talks with co-operating in LNG trade with EDF Trading. Jera however declined to comment to Reuters on a report by a Japanese regional newspaper that Jera might buy EDF Trading's LNG operations outright. EDF Trading declined to comment to NGW.
Trade sources have since indicated to NGW that such talks are on co-operation and optimisation, and not on an acquisition, despite rival utility Engie's announced divestment of much of its LNG business to Total.