Axpo marks 100 LNG cargoes to Europe

16.12.2024 - Axpo has achieved a new milestone in its liquefied natural gas (LNG) business with the delivery of 100 LNG cargoes to Europe in less than four years. LNG continues to be an important component of Axpo’s trading & sales business, providing security of supply to Axpo customers in Switzerland and internationally.

One hundred LNG cargoes were delivered by Axpo to Europe between January 2020 and September 2024, with the bulk going to terminals in Spain, France, Italy, and Portugal. The total volume of LNG amounted to 76.07 terawatt hours (TWh), enough to provide power to the equivalent of around 4.7 million homes in a year. 

During the 2023/24 financial year alone, Axpo imported 25 LNG cargoes into Europe, equivalent to 16.2 TWh, representing the annual gas consumption of one million European homes. 

Axpo’s Head of Trading & Sales Domenico de Luca said: “Axpo’s natural gas and LNG activities have continued to thrive over the past years and play an important role in providing a secure energy supply to our customers. Gas is a key bridging fuel, providing the diversification needed during the energy transition as renewable energy technologies gain scale.” 

Axpo is active across the midstream and downstream natural gas and LNG sector in Switzerland and abroad. For nearly 20 years, the company has actively traded and transported gas across Europe. For more than a decade, these activities also included LNG. Customers range from small and medium-sized enterprises (SMEs) to large energy-intensive industrial companies. 

Axpo’s LNG unit has extensive experience supplying LNG to industrial clients. The company is currently expanding its LNG operations into bunkering, chartering small-scale vessels for this purpose. LNG bunkering allows the ship-to-ship and ship-to-truck transfer of LNG and represents an efficient and cost-effective solution for reducing greenhouse gas emissions, especially in the shipping industry. Bunkering is an increasingly important growth area for Axpo as LNG offers a cleaner and more competitive alternative to fuels traditionally used in the maritime sector.