RWE Opens Office in Mumbai for LNG Trade
RWE strengthens its presence in Asia as part of its growth strategy in the East. The new presence in Mumbai, India, was opened on 28th November 2013 by the CEO of RWE Supply & Trading, Stefan Judisch, in the presence of the Director General of the Indo-German Chamber of Commerce Bernhard Steinrücke and around one hundred representatives of customers and business partners.
Full operations of the newly established office, headed by Tapas Kapadia as CEO of RWE Supply & Trading, started already middle of November with a learning and introduction tour with Mr Judisch, Mr Kapadia and the responsible business heads of the global coal, LNG and fertilizer activities. During this tour to Mumbai, Delhi and Gujarat, the RWE Supply & Trading team met senior executives of public and private companies and senior government officials.
This marks the next step of RWE Supply & Trading growth strategy in the Asian/Pacific region after the establishment of offices in Singapore 3 years ago and opening of an office in Jakarta, Indonesia earlier this year.
Besides the business focussing on coal trading and freight in India and Indonesia, RWE Supply & Trading is also directly supplying coal to consumers like cement and fertilizer producers globally. Nitrogen fertilizer has been added recently to its traded portfolio. Customers are now able to access RWE’s global fuel and logistics portfolio, helping e.g. fertilizer producers to optimize feedstock choices like natural gas, coal and waste gases and to hedge their cash-margins (gas-nitrogen spread).
In parallel RWE Supply & Trading is continuing to expand its LNG trading business by levering its experience and capability to hedge LNG buyers’ exposures to oil and gas indices and by optimisation of FOB LNG supplies and shipping from US liquefaction or other new production sources.
Tapas Kapadia: “I am happy that we can now offer our comprehensive skills and knowledge of the global RWE Group to the growing Asian markets and especially to my home country India“.
With over 550 million tons of coal traded, ca. 25% thereof in Asia-Pacific, RWE is one of the leading coal traders of the world with over 14 years of experience in both physical and financial coal & freight trading.
The RWE Group based in Essen, Germany, holds over 115 years of history in the electricity and connected commodity markets. In 2012 an external revenue of well over 50 billion Euro and an operating result of 6.4 billion Euro could be achieved by more than 70.000 employees. RWE is number 1 in electricity sales in Germany and number 1 in gas sales in the Netherlands and in the Czech Republic.
RWE Supply & Trading is the interface between the RWE Group and global wholesale markets for energy and energy-related raw materials and a leading European energy trading house. It is the hub for all tradable commodities, in both their physical and/or derivative forms, including power, gas (incl. LNG and fertilizer), coal, freight, oil, biomass, weather, emissions certificates and renewable energies. RWE Supply & Trading is responsible for the economic optimisation of the entire non-regulated gas business of the RWE Group, including all procurement, transport, storage and LNG-related activities.
LNG World News Staff, December 04, 2013; Image: RWE