ENGIE successfully entered into the 1st trade on EEX's Japanese Power Futures
This first trade on EEX’s Japanese Power Futures was concluded between ENGIE and Tohoku EPCO Energy Trading Co., Inc. with brokering services provided by the Japanese commodity brokerage firm, enchain Corporation.
Natural fit for ENGIE to strengthen activities in Japan.
On top of being active in all liberalized power markets globally, ENGIE has developed close ties and business activities in Japan for many decades. These activities mainly include energy derivatives, LNG and biomass supply to Japan as well as power generation projects and strategic relationships with Japanese major utilities for established global partnerships and joint ventures.
As part of ENGIE’s ambition to lead the transition to a carbon neutral economy, we are active in hydrogen and ammonia-related developments. We are also pursuing developments in offshore wind and building a presence in Client Solutions activities to help customers reduce their carbon footprint.
ENGIE will trade EEX’s Japanese Power Futures through its Singapore-based power desk. The desk is already active in liberalized power markets in Asia Pacific, specifically Australia, New Zealand and Singapore power markets and will bring liquidity to Japan in the current context of energy market liberalization.
As one of the key players in Europe, EEX develops, operates and connects secure, liquid and transparent markets for energy and related products. Offering contracts on, among others, Power, Natural Gas and Emission Allowances, EEX stands as a robust partner for ENGIE.
As Steffen Koehler, Chief Operating Officer at EEX underlines "Today is certainly a milestone for EEX and a very special moment for us. Our new product offering for Japan will be the first Asian market area on the EEX Power Derivatives platform in addition to being the first EEX Group product specifically built for the Asian market. I would like to thank ENGIE for officially being part of the 1st trade and for the amazing support they have shown us over the past two years”.
ENGIE is confident this first trade will only pave the way to many more and reinforce our commitment to Japan.
"With this first trade on EEX Power Futures, we are delighted to contribute in what we see is the beginning of a major development in Japan”, says Gordon Waters, CEO of ENGIE’s business unit “Global Energy Management” in Asia Pacific. “As a global energy player, ENGIE is committed to bringing liquidity in all liberalised energy markets and Japan is a major addition to our Asian power activities. We would like to warmly thank EEX for making this ambitious project a reality and we are looking forward to more deals."
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