LNG is Key to Gazprom's Asia Strategy

Gazprom has decided to concentrate more on its Asian liquefied natural gas and non-gas liquids business as the trade volume is on an uptrend.

"We're going to concentrate on LNG, and we see that as our big growth area. And demand is very strong," Moscow Times quoted Arthur Tait, managing director of the Singapore trading unit of Gazprom as saying.

Gazprom Marketing & Trading Singapore, has ordered two LNG tankers, which will boost its fleet size to five vessels in 2014, he said.

Last year, the Singapore unit sold up to 2.5 million tons of LNG to Asia, of which 1 million tons came from its production in Sakhalin, while it supplied 450,000 tons, or 10 cargoes, of LPG to Asia.

New regasification terminals proposed in Southeast Asia could boost LNG demand, in addition to strong consumption from China, India and South Korea, Tait said.

Gazprom supplied the first LNG commissioning cargo to Thailand when its terminal started operations last year, the newspaper said.

Gazprom is keen to justify the big investments it has made in Russia," Tait said, referring to Gazprom's LNG projects.