MET Group Says New French Gas and Power Contracts Amount to 1.5 TWh/Year

Switzerland-based energy trader MET group said on Thursday its new portfolio in France following the takeover of Antargaz's gas and power deliveries would account for total annual consumption of more than 1.5 terawatt hours (TWh).

MET France, which will mostly serve small- and medium-sized enterprises, will deliver gas and power to about 15,000 locations.

While the number of customers purchasing gas and power is fairly balanced, only a small proportion will be residential customers, MET France said.

MET Group's activities include wholesale and retail distribution of gas and power generation in Germany, Italy, Spain, Hungary, Switzerland, Croatia, Romania, Slovakia, Bulgaria, Serbia and Turkey.

It announced in early September a preliminary agreement with Commonwealth LNG to buy liquefied natural gas from the U.S. company's facility under development in Cameron, Louisiana.