Singapore (VNA) - 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 has currently over 50 companies with an LNG trading or business development presence in Singapore, Trade and Industry Minister Chan Chun Sing told the Gastech virtual summit held early this week.

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

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

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