LONDON Feb 10 The energy trading division
of US conglomerate Koch Industries launched its
liquefied natural gas (LNG) business this week with an eye on
lucrative routes to Asia as demand there soars.
Cargoes of LNG are changing hands for more than $40 million
each as sales into Asia boost trading profits among established
industry players, such as BG Group which recently upped
LNG profit targets for 2012 by 30 percent.
Koch Supply and Trading Sarl, based in Geneva, aims to begin
trading cargoes of LNG in Asia, Europe and the Americas from
offices in Houston, London and Singapore.
"This venture into the international gas markets is a way to
link its global portfolio to benefit its suppliers and
customers," said Stephen Cornish, recently recruited by Koch to
build up the operation.