EXXONMOBIL, one of Singapore's largest foreign manufacturing investors, is setting up a new organisation in the city state to market liquefied natural gas (LNG) from its own projects.
New roles will be created for specialised LNG marketing and operations personnel, said the oil major, which said that it chose Singapore for this new arm because of its supportive business environment and strategic location.
ExxonMobil had previously established in Singapore a Papua New Guinea LNG marketing team and an LNG operations team that manages cargo, ship scheduling and measurement and sales accounting processes.
The group's global marine quality assurance headquarters which has been relocated to Singapore also supports the LNG activities.
Said ExxonMobil Asia-Pacific chairman and managing director Gan Seow Kee: "The decision to consolidate our LNG activities enables us to more efficiently serve our Asia-Pacific customers. Singapore remains an attractive investment location with its stability, sound infrastructure and systems and connectivity."