AsiaCorporate

Axpo to open Singapore office with a focus on LNG trading

By Mirza Duran
Axpo to open Singapore office with a focus on LNG trading
Sophie Ducoloner (Image: Axpo)

Switzerland’s renewable energy producer Axpo will open a branch in Singapore to expand its trading activities in Asia’s growing LNG market.

Axpo said in a statement it hired Sophie Ducoloner to lead the new subsidiary from December 1, 2020.

Ducoloner has around 20 years of experience in the LNG sector. This includes roles at JERA Global Markets, EDF Trading and Gazprom marketing and trading.

Furthermore, her first tasks at the new role will be to hire a team of experienced industry professionals. Ducoloner will develop activities that support the firm’s wider regional strategy and ambitions, the statement said.

Axpo Singapore will focus on trading and delivering energy solutions, including procuring energy, portfolio optimisation and energy risk management.

Domenico De Luca, Axpo’s head of trading and sales, sees a strong demand for energy in general and for LNG in particular in Asia.

“Many Asian countries are set to grow in LNG in the coming years as they want to do without coal in the future due to climate change and renewable energies cannot be developed quickly enough,” he said.

De Luca added that Singapore is the hub for the energy trading activities in Asia and the new branch will strengthen the firm’s position in this important growth market.

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