(EnergyAsia, February 22 2012, Wednesday) — US conglomerate Koch Industries has started up a liquefied natural gas (LNG) business with an eye to meeting surging demand in Asia.
Koch Supply & Trading Sárl, the company’s Geneva-headquartered energy trading division, recently hired Stephen Cornish to complement existing North American activities in Houston and optimise its global portfolio by building a Europe-wide natural gas business from Geneva and an LNG trading business from Geneva, London and Singapore.
Origination and marketing support locations are also planned for the near future in other cities in East Asia, the Middle East and Latin America.
Mr Cornish said: “This venture into the international gas markets is a way to link its global portfolio to benefit its suppliers and customers. We believe this step into the international gas markets provides a strong counterparty for producers and customers alike.
“We will build out our operations in Asia, Europe and the Americas to the high standard that Koch Supply & Trading has set and look forward to working with our counterparts. This is a very exciting venture for us.”