Hungarian energy trader MET Group has announced that they've established subsidiaries in Italy and Bulgaria to sell gas and electrical power to industrial and SME customers.
According to the Budapest Business Journal, MET Group has been active on the Italian gas wholesale and LNG markets for several years. MET Energia Italia will target end-user customers the company announced.
Meanwhile, MET Bulgaria will "build synergies through cross-border trading with MET Groupʼs regional subsidiaries, and position itself on the domestic wholesale and retail power and gas markets," the company added.
Through subsidiaries, MET is currently present in 15 countries: Austria, Bulgaria, Croatia, Hungary, Italy, Lithuania, Romania, Russia, Serbia, Slovakia, Spain, Switzerland, Turkey, U.K. and Ukraine.
MOL holds a 40 percent stake in MET, and they also hold 27 national gas markets and 19 international trading hubs, with a big end-consumer presence in Croatia, Italy, Hungary, Romania, Slovakia, and Spain.