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More than 50 firms set up LNG desks in Singapore

More firms have set up liquefied natural gas (LNG) desks in Singapore to capitalise on growing demand for gas in Asia, Singapore’s Trade and Industry Minister Chan Chun Sing said.

Singapore (VNA) - More firms have set up liquefied natural gas(LNG) desks in Singapore to capitalise on growing demand for gas in Asia, Singapore’sTrade and Industry Minister Chan Chun Sing said.

Singapore has currently over 50 companies with an LNG trading or businessdevelopment presence in Singapore, Trade and Industry Minister Chan Chun Singtold the Gastech virtual summit held early this week.

They include key buyers of LNG such as Osaka Gas setting up trading operationsin Singapore, according to the minister.

A push for more transparency in the sector has boosted spot trades of AsianLNG. Singapore, which is the Asian oil trading hub, is seen as a natural hubfor LNG especially for companies that already have a presence in the city-stateand are looking to expand into LNG.

Chan said the companies have chosen Singapore due to the "richeco-system" of companies across the LNG value chain, Singapore's closelinks to the growing region and the ease of doing business in the country./.

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