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.

In 2016 Michael co-founded Energex with four former colleagues and his areas of primary focus are Energy Transition (CCS, biomethane and carbon markets) and M&A transactions in the energy infrastructure sector. Michael also leads the Energex effort in a biomethane development project to build multiple greenfield biomethane plants in Europe as part of a consortium between Energex, Copenhagen Infrastructure Partners and Atlas Renewables.

Michael serves on the board of directors of four private companies: Danish Shipping company Maersk Tankers, Greengate Biogas in Ireland and two European bulk liquids storage companies, Navigator Terminals and Douglas Terminals.

Specialities:

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

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

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)

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

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 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

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 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

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

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

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

Simon will advise on projects relating to conventional and low-carbon methanol. Methanol is already an essential raw material for the global chemical industry and is fast becoming a valuable, low-carbon alternative to conventional road, marine and aviation fuels. Simon began his career with ICI PLC in the UK and brings 30 years of experience working with methanol, including sales, marketing, logistics, process engineering and product stewardship. Before returning to the UK and entering consulting, Simon ran Methanex’s Asia Pacific business from Hong Kong. 

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

Pavan brings over two decades of global leadership across the energy, industrials, and infrastructure sectors, with deep expertise in decarbonization, CCUS, e-fuels, and capital project development. At Holcim, he served as Vice President for CCUS & e-Fuels, where he built and led a global portfolio of over 40 full-scale CCUS projects, (and securing over $2 billion in CAPEX commitment from the board and $1 billion in public funding for 7 CCUS projects in Europe). His work established CCUS, carbon removals, and e-fuels as core growth platforms within the business.

Previously, Pavan was Licensing Director at Shell, where he led the commercialization of CCUS, blue hydrogen, and e-fuels technologies to support the decarbonization of refineries and integrated energy assets across EMEAR. He has a strong track record of shaping bankable business cases and delivering Board-level investment narratives, translating advanced technologies into commercially viable decarbonization pathways.

Pavan is widely recognized for his ability to align technical innovation with strategic imperatives, particularly in complex stakeholder environments. His experience spans collaboration with Middle Eastern NOCs, governments, and global IOCs, making him ideally placed to lead Energex’s regional efforts. He holds a doctorate in Process Design, an MBA from Duke and HEC Paris, and serves on multiple EU expert groups in CCUS and sustainable fuels

Specialities:

Sustainability & Climate Action
CCUS
CDRs
Industrial Decarbonization
Public Funding
Advocacy

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

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

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

Tom will be focused on shipping and maritime solutions to improve efficiency, and profitability and help manage the increasingly complex requirements of fuel types and emissions. Tom brings 20 plus years of experience working in the Global Freight industry, specialising in Freight Trading and Chartering for oil tankers and dry cargo vessels. He was most recently Head of Chartering and Freight Solutions at Maersk Tankers and also had a successful career in chartering, freight trading, freight trade modelling and analysis with BP, Morgan Stanley and Castleton Commodities International (CCI). 

He led the trading division of BP, a company in which he also served as Group Treasurer and Head of Strategy. He was a member of the leadership teams of both the Upstream and Downstream divisions. He, therefore, has direct experience of the value chains from production to consumption in oil, gas, electricity and associated markets (such as agricultural feedstocks, emissions and currency). In particular, he helped to build the gas businesses of the company in North America, Europe and in Global LNG.

Latterly, he has worked, both within BP and across the wider industry, to consider the energy transition and the evolution of lower carbon options.

He is now a “Visiting Fellow” of the Oxford Martin School – which seeks solutions to the world’s most urgent challenges and is hosted by Oxford University.

Leigh is an experienced projects lawyer and corporate executive with 18 years’ experience in business and project development, merger and acquisitions, the establishment and management of large-scale joint ventures and in the origination and financing of energy and infrastructure projects.

Before joining Energex, Leigh spent 12.5 years at Yara International ASA where he was involved in the successful development, construction and management of over USD$2 billion of ammonia and ammonium nitrate production infrastructure in Western Australia. Leigh served as General Counsel and led Yara’s commercial and government relations function in Australia. More recently he was the Director of Business Development for Yara Clean Ammonia where he was responsible for the origination and development of low carbon and green ammonia projects in the Asia Pacific.

This role included the assessment of third-party carbon, capture and storage opportunities to decarbonise Yara’s operations, and the development of new markets for ammonia in energy generation and as a marine bunker fuel.

Prior to joining Yara Leigh worked as a corporate and projects lawyer with Clifford Chance and Minter Ellison specialising in energy and resources.

Specialities:

Energy Transition

Business Development
Mergers and Acquisitions
Projects

Isabel joined Energex in September 2024 as a recent graduate of the University of Bristol with a BSc in Chemistry.  

During her final year, she assisted ongoing research exploring renewable fuel formation reaction mechanisms, using multilevel quantum mechanical methods. This work was the foundation of her thesis, investigating the methanol-to-hydrocarbon reaction using green methanol as feedstock. Isabel’s work is included in a joint publication in the Journal of Physical Chemistry Chemical Physics.  

Since joining Energex, she has been supporting on a variety of projects helping to understand refinery market drivers, competitive landscape, EU regulations to energy transition and flows. 

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)

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

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.

Soundarya joined Energex in September 2024 as a recent Graduate from London School of Economics and Political Science, graduating with an MSc in Finance and Economics.

Since joining the team, she is currently supporting an LNG strategy project for which she has been researching global market outlook and customer landscape for the client. Prior to joining Energex, Soundarya worked at a California-based private equity firm, where she primarily conducted market research and built M&A market maps. 

Thomas joined Energex December 2023 as an intern after recently graduating from the London School of Economics, with an MSc in Applicable Mathematics. He joined Energex as an associate in April 2024.

Since joining, he has built models ranging from LNG storage optimisation to hedging simulations for a European fuel supplier. He has also contributed to several projects with key pieces of analysis surrounding legislation, trade flows and optionality.

As CFO of Energex, Caroline brings over 15 years of financial leadership experience spanning founder-led startups, PE-backed firms and global multinationals. A Fellow of the Institute of Chartered Accountants of England and Wales, Caroline trained at KPMG and has a proven track record of driving strategic growth and optimising financial operations.

Before joining Energex, Caroline served as CFO at IRIS Audio Technologies, a SaaS scale-up, where she played a pivotal role in securing Series A funding and enhancing the financial infrastructure. Prior to that, as Global Finance Director at Wave Studios, she led the company’s financial strategy, guiding it through a challenging economic landscape while supporting international expansion. Her experience also includes senior finance roles at Universal Music Group and various high-growth businesses, where she specialised in financial planning, investor relations and operational efficiency.

Anna is responsible for overseeing internal operations at Energex Partners, ensuring the efficient management of HR, Compliance, and both internal and external Know Your Customer (KYC) procedures. In addition, she provides essential support to the Partners and the wider team, helping to drive efficiency and maintain regulatory alignment within the firm.

Previously, Anna played a pivotal role in the operations and marketing strategy of a global network of international schools. She led efforts to streamline internal processes, strengthen compliance frameworks, and unify marketing strategies across more than 100 sites spanning EMEA and the Americas, helping to enhance organizational cohesion and improve operational effectiveness on an international scale. Whilst in this position, Anna also served as the Company Secretary and Clerk to the Board of Trustees, where she was responsible for governance, regulatory adherence, and ensuring that board-level decisions were implemented effectively.

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

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

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

Specialities:

Gas and LNG
LNG Shipping
LNG and green fuel bunkering