MET Group sets up units in Italy, Bulgaria

Energy Trade

Hungarian-owned energy trader MET Group on Monday announced the establishment of subsidiaries in Italy and Bulgaria, state news wire MTI reported. The units will sell gas and electrical power to industrial and SME customers.

MET Group has been active on the Italian gas wholesale and LNG markets for several years. With the establishment of MET Energia Italia, it will target end-user customers, the company said.

MET Bulgaria will "build synergies through cross-border trading with MET Groupʼs regional subsidiaries, and position itself on the domestic wholesale and retail power and gas markets," it added.

MET is present in 15 countries through subsidiaries (Austria, Bulgaria, Croatia, Hungary, Italy, Lithuania, Romania, Russia, Serbia, Slovakia, Spain, Switzerland, Turkey, U.K. and Ukraine), 27 national gas markets and 19 international trading hubs, with a big end-consumer presence in Croatia, Italy, Hungary, Romania, Slovakia, and Spain.

Hungarian oil and gas company MOL owns 40% of MET.

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