Strong financial performance helped Swiss-based MET Group to reinforce its role as an energy transition company, it claimed in its 2024 results roundup.
Throughout 2024, MET Group maintained its position as one of the fastest-growing independent energy suppliers in Europe.
MET achieved its third most profitable year on the back of a consolidated revenue of €17.9 bill. However, the revenue was down from €24.5 bill recorded the year before reflecting the normalisation of energy prices.
The traded volume of natural gas increased significantly to 140 bill cu m (from 88 bill in 2023).
In its LNG business, last year, the MET Group imported 22 cargoes to Europe.
The company entered into a 10-year LNG purchase agreement with Shell to supply its European customers with US LNG, and reached a partnership agreement with Celsius to build MET’s first LNGC, scheduled to be delivered in 2027.
With its business structure ranging from gas, LNG and power trading, gas and electricity sales across 17 countries, investments into gas storage, gas-fired power plants, CHP (combined heat and power) and battery energy storage systems to renewables, MET Group is perfectly positioned as an energy transition company, it claimed.
MET Group Chairman and CEO, Benjamin Lakatos, said: “After the energy crisis in 2022, Europe last year finally decided to drive the energy transition in the right direction with a pragmatic approach. At MET, we will continue to play our role in resolving the energy trilemma of energy security, de-carbonisation and affordability.”
