Energex was founded in 2016 by five senior leaders from Morgan Stanley’s Commodities Trading Business who recognised a need in the energy sector for a fresh approach to strategic and commercial advisory services. We ensure that our clients are served by Partners and senior practitioners throughout the engagement to ensure the implementation of practical solutions and impactful results.

Michael has worked in the energy industry for over 30 years, with an extensive background in building successful asset-backed trading businesses, commercial due diligence in conventional and new energies businesses as well as operating model design. He is currently the Managing Partner at Energex and leads the M&A Transactions Services.

Before co-founding Energex, Michael spent 23 years at Morgan Stanley and was an integral part of the senior management team that created one of the best-in-class global commodity trading divisions.

Since then Michael has led complex engagements across the energy spectrum from oil, biofuels, gas and LNG to biomethane, waste-to-value, carbon capture & storage, environmental products and hydrogen. He works very closely with a wide array of major investment funds and blue-chip corporate and sovereign clients.

Michael has served on the boards of several private companies in the energy sector, in particular in the shipping, midstream storage and transport fuels  and is currently on the boards of Maersk Tankers, Navigator Terminals and Douglas Terminals.

Specialities:

Building Complex Trading Operations
Growing and Optimising Asset Portfolios
Commercial Due Diligence
Operating Model Design

Steve has over 30 years of experience in the fields of commodity trading, risk management and structured transactions, with a primary focus on business development and origination in the energy markets. Steve oversees our commercial advisory services with our investor clients, relating to M&A transactions and post-acquisition optimisation and strategic planning. He also operates as Energex’s CFO. He has led a number of projects pertaining to risk management and improving business development within commercial operations to enable growth and market penetration.

Before co-founding Energex in 2016, Steve spent 17 years at Morgan Stanley as a leader developing client activity in the oil division, spanning derivatives and physical transactions of varying complexity, incorporating risk management, finance and credit solutions. Before that, Steve was at Credit Lyonnais Rouse for eight years, where he developed their OTC Oil Derivatives business from a two-man start-up into one of the key industry players.

Steve specialises in Commodities Markets (Oil), Origination and Structured Transactions and Risk Management Strategies.

Specialities:

Commodities Markets Expertise (Oil)
Origination and Structured Transactions
Risk Management Strategies & Processes

Goran has 35 years of experience in the oil and commodities industries. As a co-founding partner of Energex, Goran’s client work is mainly focused on corporate strategy, business development, risk management and trading.

Before founding Energex, Goran spent 23 years at Morgan Stanley. During this time, his focus on strategy, execution and the critical imperative between risk and reward were instrumental in the rapid and successful growth of Morgan Stanley’s Oil business into a market leader. In addition to his role as Global Head of the Oil Division 2008-11, Goran served as Head of Commodities EMEA and was a member of the Morgan Stanley EMEA Management Board.

Goran specialises in Commodities Markets (Oil), Market Interface Advice and Growing and Optimising Asset Portfolios.

Specialities:

Commodities Markets Expertise (Oil)
Market Interface Advisory Expertise
Growing and Optimising Asset Portfolios

Ronny has over 25 years of experience in the oil industry. At Energex, Ronny manages projects connected to the trading and risk management of physical oil and products, along with their related logistics and assets such as oil storage and distribution.

Before co-founding Energex, Ronny was Managing Director and Head of Origination (EMEA and Asia) for Morgan Stanley’s Oil Trading business and Head of Business Development and a member of the Management Committee for the trading arm of Lukoil (Litasco). Prior to this, Ronny was an oil trader for various oil majors and oil traders.

Ronny has significant experience of negotiating a wide variety of complex high-value deals, including several long-term off-take agreements, refinery tolling agreements and JV structures. 

Ronny specialises in Physical Oil Trading, Origination and Business Development and commercial due diligence of Midstream Assets.

Specialities:

Joint Venture Structuring
Physical Trading Expertise
Origination and Business Development
Commercial Due Diligence Expertise (Midstream)

Colin has over 40 years of experience in the Commodities and Financial Services and is a founding partner of  Energex. At Energex, Colin’s main focus is on advising clients on organisational excellence at the market interface, setting up trading businesses and helping identify and mitigate the many difficult issues associated with these activities.

Before co-founding Energex, Colin was Chairman of Morgan Stanley Bank International Ltd and Co-Head of Global Commodities and Head of EMEA Sales and Trading at Morgan Stanley. Closely involved in the creation of the ICE Exchange, his experience ranges from Crude Oil trading, Creation of a Power and Gas business, Heading EMEA Sales and Trading (Equity, Fixed Income and Commodities) for a major Wall Street bank, through Chairing the International Commercial Bank at Morgan Stanley (MSBI Ltd).

Colin specialises in Commodities Markets (Oil, Power & Gas), Market Interface Advice, Price Benchmarking and the Middle East and FSU. His outside interests include Breeding Racehorses, the Savoy Operas, and Rugby.

Specialities:

Commodities Markets Expertise (Oil, Power and Gas)
Market Interface Advisory Expertise
Middle East and FSU Experience

Jason has over 23 years of experience in the Energy sector. At Energex, he leads the Infrastructure Services business, which provides strategic and business planning on the impact of energy transition and growth in energy needs spanning oil products, chemicals, and renewables. Jason has led several large successful transactional due diligence processes and provides commercial advice to Energex’s clients. He bridges long-term outlooks and competitive landscapes analysis to the specifics of how a site can participate.

Before joining Energex, Jason spent 15 years at BP, where he developed and upgraded several billion dollars worth of assets and led business transformation programmes. He is well accustomed to working with diverse teams, investors, asset operators and engineering companies.

Jason is a Cambridge Astrophysics graduate and specialises in Midstream Infrastructure, Market Outlooks, Commercial Evaluation of Assets and Projects and Transactions Due Diligence.

Specialities:

Midstream Infrastructure Specialist
Market Outlooks
Commercial Evaluation of Assets and Projects
Transactions Due Diligence Expertise

Jonathan has over 35 years of experience in the oil and commodity industries.

Jonathan’s career began at Shell, before various trading roles in Goldman Sachs and GLG, and a leadership position in Koch Supply and Trading. He joined Morgan Stanley in 2007 and until 2016 he co-led the clean products trading team with responsibility for EMEA and Asia, before moving to a leadership role at CCI after it purchased Morgan Stanley’s trading operations. He is a former Chairman of the European Feedstocks Association

Jonathan specialises in Commodity Trading (Oil and Petrochemical Interfaces) for both Transaction Due Diligence and Strategic Advisory and has a focus on Energy Transition including biofuels.

Specialities:

Commodities Trading Expertise (Oil)
Transaction Advisory Due Diligence
Advisory in Energy Transition

Tom is an experienced energy industry advisor, with around 10 years’ sector experience having worked in analytics, strategy consulting and business management of the energy practice within a major global law firm. At Energex, Tom is focused on the natural gas and LNG sectors, advising on M&A, strategy, markets and operations.

Tom has advised infrastructure funds, (including Brookfield, FSI, OTPP, GIC and ADIA) on major transactions in the midstream oil and gas sector. Additionally, Tom brings the experience of working with corporate/government clients in the gas and LNG sectors to develop their businesses and projects, enter new markets and build long-term strategies.

Tom specialises in Commodities Markets (Gas and LNG), Transactions Due Diligence, and Strategy Development.

Specialities:

Commodities Markets (Gas & LNG)
Transaction Due Diligence
Strategy Development

Christian has over 30 years of industry experience and is a Senior Business Leader with General Management, Operations and Business Development experience. At Energex, Christian is focusing on the Middle East region where he is currently based.

Before joining Energex, Christian was BP’s Chief Representative for the Downstream, managing its Dubai office, and Regional Managing Director for Air BP’s aviation refuelling businesses in the Middle East and Africa. Christian has a track record of governance and key stakeholder engagement through senior directorship positions roles and several board-level positions; in addition, has won multiple business awards.

Christian is fluent in Arabic, German and English, and specialises in the Aviation Refuelling Sector; Business Development and M&A and working within the geographical area of the Middle East, Africa and South Asia.

Specialities:

Aviation Refuelling Sector Expertise
Business Development and M&A Specialist
Middle East, Africa and South Asia Experience

Frank has almost 35 years of experience in the chemicals, petrochemicals and energy sectors, spent largely at DSM, SABIC and Interchem in the Netherlands. At Energex, Frank’s focus is on projects in the petrochemical industry, principally logistics, infrastructure, marketing, and processing.

Prior to joining Energex, Frank spent over ten years at Interchem as a Board member and global commercial director, before going on to found BA-Trading, a service-oriented trading company in gasoline and fuel oil components.

Frank specialises in Petrochemicals and Gasoline, Marketing, Sales and Trading and Petrochemicals Processing.

Specialities:

Petrochemicals and Gasoline Expertise
Marketing, Sales and Trading
Petrochemicals Processing

Guido has over 30 years of experience within the oil and petrochemical industry. At Energex, Guido focuses on petrochemicals, renewables and gasoline projects.

Before joining Energex, Guido held several roles within the petrochemical industry and trading industry, most recently spending 12 years at Interchem, where he was the senior product trader for Gasoline components, Fuel Oil components and pygas.

Guido speaks fluent Dutch, German and English and specialises in Petrochemicals, the Trading and Marketing of gasoline and fuel oil, and Processing Technology.

Specialities:

Petrochemicals
Trading and marketing gasoline and fuel oil
Processing Technology

Liz has over 20 years of trading and commercial management experience in oil, gas and LNG businesses. She joined Energex in 2020 and has enjoyed helping companies with commercial strategy and organisation, particularly around storage and refining assets.

Since 2013, Liz has worked as a consultant, where she initially focused on teaching and assessing traders in numerous major oil companies, NOCs, trading houses and at the ICE exchange. She continues to be the leader on courses globally. Before this, she spent fifteen years working with BP, initially in refining, before moving to frontline oil, gas and then LNG trading roles in London and Houston. She has also worked in Group Economics and was the strategy manager for Shah Deniz II development.

Liz is also a Non-Executive Board member for Crossbridge Energy Partners which own the Fridericia refinery and other assets focusing on energy transition and waste processing. She specialises in Commodities Markets (Oil, LNG and Gas), Midstream and Refining Business Strategy and Asset-backed trading.

Specialities:

Commodities Markets Expertise (Oil, LNG and Gas)
Midstream and Refining Business Strategy
Asset-backed trading

Joanna has over 35 years of experience within the energy sector, with 25 years of that spent leading multi-cultural teams and working internationally in most aspects of the LNG sector: buying (for power generation and gas commercialisation), selling and operations. At Energex, Joanna provides in-depth LNG expertise and has guided LNG sale and purchase agreements, entry into the LNG trading market and due diligence on the acquisition of a small-scale liquefaction facility.

Before joining Energex, Joanna held various leadership positions in Gazprom M&T as the Director(s) of Portfolio Commercial Co-ordination; LNG Marketing Asia; and latterly Global Business Development. A fluent Spanish speaker, Joanna spent almost a decade working in senior leadership roles at Endesa in Madrid establishing their gas and LNG business, before moving on to Qatargas where she led the marketing of two LNG trains and then moved to leading commercial operations. From Qatar, she went to Vattenfall in Amsterdam and then GM&T in Singapore before returning to London.

Joanna has comprehensive global LNG experience, and specialises in LNG Contracts and developing Operating Models for Gas and LNG.

Specialities:

Comprehensive global LNG experience
Developing Operating Models for Gas and LNG
LNG Contracts

Nico has over 40 years of industry experience, with a track record of delivering smart and creative infrastructure solutions to support supply and trading strategies in crude, refined products and biofuels. At Energex, he uses his deep expertise in operations and logistics to build bridges between commercial, financial and operational arms.

Before joining Energex Partners in 2021, Nico spent 21 years in BP’s Trading & Shipping managing a strategic, technical, and operational growth portfolio of around $100m-$300m per annum in Europe and Africa along with traders, strategy team and originators.

Nico specialises in Operations (Oil and Liquids), Renewables and Biofuels and has wide geographical project experience.

Specialities:

Operational Expertise (Oil and Liquids)
Wide Geographical Project Experience
Biofuels – Energy Transition Expertise

Ian has over 25 years of experience in the commercial management of oil refining and trading.

Before joining Energex, Ian held directorships and senior management positions in companies managing oil refining supply chain optimisation, oil trading, commodity price risk management, trade finance, shipping, contracts management and wholesale marketing operations. Ian also has extensive experience in M&A projects and has been on the merger, purchase and sale sides of significant transactions involving oil refineries and their associated businesses.

Ian specialises in Oil supply, trading and risk management, M&A Projects and Supply Chain Optimisation.

Specialities:

Oil supply, trading and risk management
M&A Projects
Supply Chain Optimisation

Maria has over 10 years of industry experience working in both oil, gas and power markets. At Energex, Maria has supported clients by developing market insights, such as for Sustainable Aviation Fuels, and has supported a wide range of projects, including an assessment of the waste to energy marketplace.

Before joining Energex Partners, Maria held various roles within BP’s Integrated Supply and Trading business in London, and her last post was as a CEF trader within the European Gas and Power trading organisation. Maria has extensive knowledge of risk management tools and international physical supply of refined products across West Africa, NW Europe and the Middle East.

Maria specialises in Origination and Business Development, Commodities Trading and Physical Blending and Strategy Development and Implementation.

Specialities:

Origination and Business Development Commodities
Trading and Physical Blending
Strategy Development and Implementation

Boris has over 20 years of experience in various international leadership roles for Oiltanking, a global provider of independent tank storage logistics. At Energex, Boris is providing commercial and strategic advice to clients active in the energy infrastructure space, especially for storage terminals looking for opportunities related to the energy transition.

Before joining Energex, Boris ran his own company, an Energy Logistics Advisory firm, based in Amsterdam, the Netherlands. Advising clients in the energy industry to support their strategic decisions, with a focus on (storage) Terminals and port-related infrastructure. One of his main projects concerned the successful divestment of a large European storage terminal portfolio. During his extended career at Oiltanking, Boris was the MD of Oiltanking Terneuzen, was Business Director for Europe and the Americas, and functioned as the regional director for the Nordic and Baltic regions, where he oversaw the management of all terminals in the region.

Boris specialises in Storage Terminals and Port-Related Infrastructure, Commercial and BD-related activities and M&A driven investment and divestment processes (oil, chemicals and renewables).

Specialities:

Storage Terminals and Port-Related Infrastructure
Commercial and BD related activities
M&A-driven investments and divestments (petroleum and chemical space)

Ulrich has over 20 years of experience and is a seasoned professional with expertise in physical and financial energy markets gained at leading companies. At Energex, Ulrich is responsible for energy market research and  the proprietary Global LNG and Gas Model which covers physical market and price forecasting. He contributes to the transactional due diligence process and models outlooks of energy transition scenarios and the impacts of environmental market developments on the energy markets.

Before joining Energex, Ulrich was responsible for forecasting, power market studies and project delivery activities at the Low Carbon Contracts Company. He has extensive commercial and transactional experience and is highly skilled in project delivery and the use of data science applications and modelling.

Ulrich specialises in Gas and Power Market Analytics, Commodities and Low Carbon and Investment Project Analysis and Modelling.

Specialities:

Gas and Power Market Analytics
Commodities and Low Carbon Expertise
Investment Project Analysis and Modelling

Michael has over 15 years of experience working in wholesale energy and carbon markets for leading energy trading companies in a variety of commercial and operational roles. At Energex, Michael leads the buildout of our offering in the carbon sector, providing investible product solutions to institutional investors and advisory services to corporates to manage their carbon exposure in both compliance and voluntary markets.

Prior to joining Energex, Michael was Portfolio Manager of the EDF Trading carbon portfolio and of the EDF Group Carbon Fund, a EUR300m vehicle for the offtake of Certified Emission Reduction (CERs) credits under the Clean Development Mechanism. At Eni Trading & Shipping, Michael set up the emissions trading activity for the Eni group under the EU Emissions Trading Scheme, to originate offtake agreements under the Clean Development Mechanism and to build the customer flow business, working with new and existing Eni I&C clients throughout the EU. In 2020 Michael set up a service-based trading and advisory company, focused on carbon and environmental markets.

Michael specialises in Commodities Markets (Carbon focus); Origination and Business Development; and Energy Transition.

Specialities:

Commodities Markets Experience (Carbon focus)
Origination and Business Development
Energy Transition

Irineu has over 35 years of experience working in business development and origination (biofuels, oil and refined products, plastic resins, industrial chemicals, sugar) for several international trading companies, and with a very strong focus on biofuels. At Energex, Irineu will lead the build-out of the Energex footprint in Latin America.

Before joining Energex, Irineu acted as the local representative in Brazil for Koch Supply and Trading, managing its sales of road transport fuels and the interface with a local major ethanol producer selling production through Koch S&T to the US. At both Morgan Stanley and CCI, he acted as ‘country manager’ for the clean products trading team, managing business development and procurement of Brazilian ethanol to supply distribution systems in the US and Europe. Irineu also served as CEO of Vertical (later sold to Raizen) in Houston, implementing distribution networks for industrial ethanol for supply to the US and Canada. He has also previously served as a board director of Alesat Combustiveis, a Brazilian fuels distribution chain.

Irineu specialises in Origination and Business Development; Physical Biofuels and Commodities Trading; and Strategy Development and Implementation.

Specialities:

Origination and Business Development
Physical Biofuels Expertise and Commodities Trading
Strategy Development and Implementation

Gary’s expertise lies in gas and LNG, right across the value chain, having provided commercial advice to LNG import and export projects, shipping companies and small scale LNG companies around the world over the last 10 years.

Most recently, Gary’s advisory projects have focused on the role of LNG in the energy transition and supporting customers to decarbonise their businesses (particularly in the shipping sector) moving from oil products to LNG and planning a longer-term transition to bioLNG and e-fuels which may include e-LNG.

Prior to joining Energex as an advisor, Gary worked with an international ship broking firm to advise shipping companies on fleet renewal strategies, develop floating import infrastructure and to create flexible shipping strategies which support the growth of LNG marketing and trading businesses.

Gary was previously a manager at Gas Strategies where he led the LNG consulting business. During this time he worked with more than 15 LNG export and import projects globally. Gary started his career with Total Gas and Power working as Risk Analyst, providing daily gas demand and exposure reports to the gas trading team.

Specialities:

Gas and LNG
LNG Shipping
LNG and green fuel bunkering

Chris has over 20 years of experience as an energy consultant. Over the last 5 years, he has been focusing on the energy transition working with clients to assess the threat it poses to their existing fossil fuels businesses and identifying new business opportunities in low or zero-carbon projects.

Chris also has extensive experience providing both sell-side and buy side due diligence services for infrastructure and other investment funds, covering oil, gas and LNG infrastructure and shipping, energy services and biomethane production. He has also worked on the hydrogen economy – examining production and transportation costs, ammonia and methanol production to assess competitiveness versus established competing fuels.

Chris was previously a managing consultant at Gas Strategies where he set up and led the infrastructure advisory team. He has a BA in languages and a PhD in economic history.

Specialities:

Gas and LNG
Biomethane
Hydrogen and its derivatives
Due Diligence advisory services

Adam brings a wide range of experience from across multiple sectors in the energy industry and has built strong capabilities across a broad range of commercial matters in LNG and Gas through Business Development, Trading and Strategy Consulting roles.

Most recently prior to joining Energex, Adam was part of the Business Development team at Mitsui O.S.K. Lines, leading the development of greenfield FSRU-based gas-to-power projects predominately located in Africa and other developing markets.

Adam specialises in Commodities Markets for Gas and LNG; Transactions Due Diligence and Business Development.

Specialities:

Commodities Markets (Gas & LNG)
Transactions Due Diligence
Business Development

With 32 years of experience in Leadership positions across three continents in ExxonMobil, Frank’s expertise lies in the Downstream Business across the entire value chain from Refining, Supply, Midstream and Commercial.

Most recently, Frank’s advisory projects have focused on aspects of the Energy Transition across Europe. He is supporting the industry with in-depth portfolio analysis, developing long-term company strategies and executing M&A projects including due diligence activities.

Before joining Energex as a Senior Advisor, Frank worked with ExxonMobil as M&A Manager in EAME Midstream, developing strategic projects for a sustainable logistics network across Europe for liquid fuels. In his role he also successfully negotiated strategic long-term (20 + years) contracts with third-party terminal operators.

Frank was previously the ExxonMobil Manager for Midstream Operations in North Europe. During this time he worked with a team of approximately 1000 employees to deliver flawless operations and superior customer service. In this role Frank held several positions on the Board of Directors for ExxonMobil including key pipeline and terminal assets in Europe (ie TAL, SPSE, RAPL, RMR, TEAM, MOT etc).

Specialities:

Midstream M&A
Terminal and Pipeline operations
Strategic Project Development
Crude/product optimization

Hugh’s expertise is in petrochemicals, across the full value chain. His whole career has been in the chemicals sector, across a broad base of roles including engineering, plant management, capital projects, procurement of raw materials and then to business management.

Most recently, Hugh ran Ineos’s Feedstocks Trading and Shipping business, directly overseeing the sourcing of very significant volumes of Naphtha, Bio Naphtha, LPG and particularly Ethane. The activities covered origination, procurement, logistics, operations and associated risk management. Apart from being a major user of the pet-chem feedstocks, Ineos was also a significant merchant trader of volumes with third parties, and during his time there, acquired a number of companies into which Hugh was seconded to manage the alignment and integration process, hence he is empathetic to the varying corporate cultures across different parts of the industry and in different regions.

Hugh is experienced in cracker feedstock & monomers, ABS, Polyolefins, EPS, ACN, SM

Chlor-alkali, esters, licensing technologies, bio-ethanol and bio-diesel, and is a Chartered Engineer, with a BSc in Applied Physics and MBA.

Specialities:

Petrochemicals, plastics and monomers
Strategy and turnaround
Supply chains especially gas shipping
Physical and paper trading
Operations

Jonathan joined Energex in March 2023 as a graduate of The University of Exeter with a degree in BSc in Economics and Politics.

At Energex, he has contributed to M&A due diligence projects and coordinated a refinancing initiative for a major German midstream provider. Additionally, he has worked on projects across the energy value chain, guiding clients on investment strategies and diversification opportunities amid the evolving energy transition.

Before Energex, Jonathan spent time at Vistra, working across the private equity and capital markets team. He has also worked in corporate finance in Johannesburg with iCapital, supporting several M&A transactions for a diverse set of sectors and performing comprehensive valuations.

Specialities:

M&A
Modelling
Corporate Finance

Gabriella joined Energex in May 2023 as a recent Graduate from London School of Economics and Political Science, graduating with a BA in History.

Since joining the team, she has been focused on project managing various assignments and has been mainly focused on Energy Transition. Some of her recent projects include writing a SAF feasibility study for the upgrading of HVO to SAF to make a positive investment decision and an energy transition study assessing the possible participation options for a storage operator. She has furthermore led two recent refinancings of Northwest European storage operators and has assisted with a third.

Prior to joining Energex, Gabriella stayed on at the LSE Students Union after graduating where she helped to project manage activity programs aiming to increase student participation.

Rui is an experienced strategy consultant with over 15 years experience in strategic, commercial and M&A advisory in the Energy sector, with a focus on Energy Transition and Midstream and Downstream Oil & Gas markets. At Energex Rui leads our corporate transformation and strategy advisory services.  Most recently, he has advised a global fuel supplier in developing their global carbon strategy and associated operating model. He also advised a European utility regarding their LNG strategy and also developed the corporate strategy for a large European terminal business.

Before joining Energex, Rui was a senior independent consultant supporting Executive Boards on energy transition transformation programmes, e.g., with hydrogen at National Grid ESO and EfW & CCUS at Cory. He previously held managerial roles in Energy strategy teams at Oliver Wyman and PwC Strategy&.

Rui specializes in Corporate Strategy, Commercial Due Diligence in Energy Markets with a particular focus on methane gas & LNG and Renewable Fuels.

Specialities:

Corporate Strategy
Commercial Due Diligence
Energy Markets
Renewable Fuels