SOCAR Trading looking for opportunities to expand LNG portfolio
Baku, Azerbaijan, May 22
By Maksim Tsurkov - Trend:
SOCAR Trading company, a trading house of Azerbaijan’s state oil company SOCAR, is looking for opportunities to develop its LNG (liquefied natural gas) portfolio in various regions of the world, including the US, a source in Azerbaijan’s oil and gas market told Trend May 22.
The source noted that the company has a clearly targeted investment strategy to support the trading operations, in which an important place is given to the growing LNG market.
“Presently, the company is actively considering possibilities for the development of its LNG portfolio,” the source said. “SOCAR Trading is involved in several LNG projects that are at different stages of development in Africa, Asia and the US.”
The source also reminded that SOCAR Trading as part of its strategy successfully implemented in Malta the first in Europe project of a power plant that converts LNG into energy.
“SOCAR Trading will supply LNG to Malta as part of this project during ten years with possible extension for another eight years,” the source said. “This corresponds to the investment strategy of SOCAR Trading.”
Follow the author on Twitter: @MTsurkovTrend