Sumitomo’s Energy Arm May Set Up LNG Trading Desk in Singapore

The energy trading arm of Sumitomo Corp. is considering setting up an LNG desk in Singapore, the latest move by the Japanese company to strengthen its foothold in the seaborne market for the fuel.

Pacific Summit Energy is exploring a liquefied natural gas desk in the city-state as part of a wider strategy to expand its trading business across Asia, Europe, and the US, according to a Sumitomo spokesperson, who said they had opened a similar operation in London in August. Sumitomo’s energy trading unit has traditionally operated in North America, with offices in California, Texas and Virginia.