By CHOU HUI HONG
BG Group, Britains third- largest natural gas producer,
will move its global headquarters for marketing LNG and oil
to Singapore in a boost for the citys stature as a
Steve Hill, president for marketing oil and liquefied natural
gas worldwide, has relocated from a base in Berkshire,
England, to Singapore, BG said Monday in an e-mailed
statement. BG won a contract in 2008 to supply 3 million tpy
of LNG to Singapore over 10 years starting in 2013, and the
company has more than 70 people working in the city.
By moving the center of our global LNG and oil
marketing business to Singapore, the heart of the fastest
growing LNG region, we are closer to many more of our
existing customers and are better positioned to develop new
and deeper relationships in the region, Hill said said
in the statement.
Asia accounts for 46% of global gas trade, according to the
International Energy Agency, which cited Singapore as
best-situated for LNG trading. The region consumed 75% of the
worlds LNG last year, data from the International Group
of Liquefied Natural Gas Importers show.
The city-states political neutrality and
English-speaking workforce will help it become an Asian hub
for LNG trading in the next five to 10 years, Seah Moon Ming,
chairman of government trade promotion agency IE Singapore,
said in an April 2 interview. Singapore opened its first LNG
terminal on Jurong Island last year and is considering a
second terminal on the citys eastern side.
With the increased capacity planned for the LNG
terminal on Jurong Island and a second facility also being
considered, we look forward to supporting Singapore in
fulfilling its vision to create a highly competitive LNG
market and become an energy supply hub for the whole
region. Hill said.
Companies have lined up to tap Singapores market.
Germanys EON, Glencore Xstrata and others have hired
LNG traders in the city. Qatar Liquefied Gas Co., the
worlds largest producer known as QatarGas, is looking
to expand in the region, Abdulla Al-Hussaini, the
companys marketing director, said in an October
Some 25 LNG companies have set up trading operations in
Singapore during the past six years, according to IE
Royal Dutch Shell, Europe
s biggest oil
producer, moved its natural-gas business from The Hague to
Singapore at the start of 2013 in response to growing demand
for the supercooled gas in Asia.