February 10, 2012 / 5:56 PM / 8 years ago

Koch steps into LNG as industry signals bumper year

LONDON, Feb 10 (Reuters) - 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.

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