Banking on energy

Banks keen to establish an energy trading presence are finding that partneringwith energy companies, or even acquiring trading businesses outright, could bethe way forward. Paul Lyon reports

Gaselys, the French energy trading company, is a well-known force in the Europeanenergy trading markets. Since its creation, by French bank Société Générale(SG) and gas giant Gaz de France in 2001, the company has doubled its tradedvolumes every year, according to its managing director Luca Baccarini. And thepartnership model of energy company and bank looks set to be recreated acrossthe Atlantic: last month, Credit Suisse First Boston (CSFB) and Dallas-basedTXU entered into a joint

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