Hin Leong eyes LNG business

SINGAPORE oil trader and shipper Hin Leong is looking to expand into the liquefied natural gas (LNG) and petrochemicals business and has set up a new company, PetroSingapore Holdings, to handle this.

"We've been watching LNG developments here from the outset, including building of the Singapore LNG terminal, and believe that there are opportunities to supply LNG in smaller quantities to North Asian markets like South Korea and Japan especially during the winter months when there is a demand surge," said Nelson Goh, Hin Leong's general manager for Business Development.

Following the establishment of PetroSingapore earlier this year, the new company is now looking at logistics like the possibility of LNG and even liquefied petroleum gas (LPG) tankers, said Mr Goh, who is also listed as a director of PetroSingapore Holdings.