Shale Boom Draws EON to Hire U.S. Traders as EU Shrinks
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EON SE will start a U.S. power and natural-gas trading operation as Germany’s largest utility seeks to profit from North America’s shale-gas revolution.
The company, which already trades U.S. power and gas derivatives from Germany, will hire five traders in Chicago, executives at EON said. The group will trade physical power and gas, may lease pipeline and storage capacity and is looking to secure liquefied natural gas capacity from the U.S., they said.