Swiss Axpo to open Singapore office to expand LNG trading in Asia

[SINGAPORE] Swiss renewable energy producer Axpo will open an office in Singapore at the end of this year to expand its trading activities in Asia's growing liquefied natural gas (LNG) market, it said on Thursday.

The company has hired Sophie Ducoloner to head the new Axpo Singapore subsidiary from Dec 1, it said in a statement.

Ms Ducoloner has about 20 years of experience in the Asian and international LNG markets, including stints at JERA Global Markets, EDF Trading and Gazprom marketing and trading.

Axpo's Singapore office will focus on trading and delivering a range of energy solutions, including energy procurement, portfolio optimisation and energy risk management.

"We're expanding our trading activities in Asia because of the significant potential in its booming LNG market," said Domenico De Luca, the company's head of trading and sales.

"The Asian markets are set to grow in LNG in the coming years as clients aim to reduce their carbon footprint and move towards cleaner energy resources and away from coal," he said, adding that the move will further accelerate growth of the company's global LNG portfolio.

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Axpo is Switzerland's largest producer of renewable energy and is involved in energy trading and the marketing of solar and wind power.

REUTERS