Mercuria Energy Group

Mercuria Energy Group

Privately held swiss international commodity trading company active over a wide spectrum of global energy.

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In 2004, two veteran commodity traders, Marco Dunand and Daniel Jaeggi, launched Mercuria in Geneva, Switzerland. With decades of shared experience at firms like Goldman Sachs' J. Aron division and Phibro, they were a known duo on trading floors. Starting with a small team, their initial playbook was focused: trade oil and establish a niche route for Russian crude into China. The company’s strategy was centered on the physical movement of commodities, a complex business of sourcing, supplying, and trading everything from crude oil to natural gas and power. This model involves not just trading but also investing in the underlying infrastructure like terminals and logistics. A pivotal moment arrived in 2014. As global banks faced increasing regulatory pressure to exit risky physical commodities businesses, Mercuria saw an opportunity. They acquired a significant portion of J.P. Morgan's physical commodities unit. This single transaction dramatically scaled Mercuria's operations, especially in North American power and gas, cementing its position as one of the world's largest independent energy traders. Today, Mercuria remains privately owned by its founders and employees. While its core business is still moving physical energy, it has expanded into renewables, biofuels, and technology metals, directing significant investment toward the global energy transition.

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