SOCAR starts LNG trading operations in Asia

SOCAR Trading, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), is starting operations in the Asian market, SOCAR Trading executive director Mariam Almaszada said in a statement to Reuters, Report informs.

According to her, in addition to one-time transactions, the trader has agreed with the government of Pakistan to supply LNG once a month: "The first batch was delivered in December of last year. The company has also started LNG trading operations in Singapore."

She added that the price of natural gas has dropped and the trader expects the demand for LNG to increase in Asia: "One of the destinations in this regard is Vietnam."