(EnergyAsia, May 26 2010) — Singapore’s oil and gas industry has been attracting new investors from the Middle Russia and Russia keen on gaining a foothold in Asia’s fast-growing markets.

These include Tasweeq of Qatar, which has opened a representative office in the city-state, and Gazprom of Russia, which plans to ramp up trading of liquefied natural gas (LNG) and other oil products.

Based on data from the Accounting and Corporate Regulatory Authority of Singapore (ACRA), about 310 Middle Eastern companies and 200 Russian business entities have registered their operations in the city-state. The numbers represent a strong increase from three years ago when there were 260 Middle Eastern companies and 140 Russian companies.