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Issue title:

Interview with Benjamin Lakatos, CEO of the MET Group

Publication date:
05.03.2024
In this issue:

Most of you were probably at E-World. I was there too, of course. I had the feeling that the atmosphere was very relaxed, and the weather and trading prices also contributed to the good mood. The biggest excitement was probably caused by the entry barriers, which could only be overcome electronically. This caused long queues, especially as early as 9am. "You have to get up early," was the comment from one of the organisation’s managers, adding that the rush showed the success of this year’s trade fair. In my opinion, there was no particular highlight topic. Naturally, I discussed a lot about the possible future of a hydrogen market, but also about energy policy (including the power plant strategy), the further development of trading prices, and the future of Ukraine's transit after 31 December 2024. But I also got a lot of ‘tiny’ bits of information that can be found on several occasions in this Gasmarkt, especially in the market rumours.

This month's topic is an interview with Benjamin Lakatos, CEO of the MET Group. Among other things, he makes very offensive and self-confident statements about the group's growth ambitions in Germany. If the German state wants to sell its newly acquired stakes in energy companies, Lakatos can imagine investing in principle. But read for yourself.

In the editorial of last month’s issue, I reported on the first trading transaction at BEB VP "2002, I think" was the date I mentioned. It was only in November 2004, as very loyal readers can read in the 11/04 edition of Gasmarkt Deutschland (as the publication was then still called). The reference to the incorrect year came from a trader who said he was involved in the second deal at the time. You can read what Andre Stracke, one of those involved in the first deal, plans to do after leaving RWE Supply & Trading in the Market Rumours section. Mr Stracke probably celebrated his official farewell with a big party on 23 February in the Collosseum, a former industrial building in Essen. I believe the legendary RWE Traders' Nights from the early days of E-World also took place there.

Enjoy the reading!

TOPIC OF THE MONTH Interview with Benjamin Lakatos, CEO of the MET Group

Frankly speaking, I have always been fascinated by the history of the Swiss MET Group. There are several reasons for this:

• The company history itself is exciting: Eon Ruhrgas (then Eon) acquired the gas midstream business of MOL in 2004 and then finally in 2006. MET emerged from the newly founded gas trading division of the formerly state-owned Hungarian oil and gas group MOL. The name stood for MOL Energy Trading. Benjamin Lakatos then spun MET off from MOL as a trading company in 2018 as part of a management buyout, having already relocated its headquarters to the Swiss canton of Zug in 2012.

• The ownership and management structure is exciting: Mr Lakatos still holds a stake of over 70 per cent in MET Group, just under 20 per cent belongs to the management and 10 per cent to Keppel, a stock-listed asset management company from Singapore with a focus on energy infrastructure and sustainable energy supply, among other business interests.[...]