INTERVIEW-Germany's E.ON seeks LNG for global expansion into Asia
* E.ON to build LNG portfolio of N.American, Middle East supply
* Expanding in Asia via small LNG trading office in Singapore
By Jacob Gronholt-Pedersen
SINGAPORE, Nov 4 (Reuters) - Germany's biggest utility E.ON is seeking to secure liquefied natural gas supplies in North America and the Middle East to sell globally, including into Asia, as it moves to diversify away from its core businesses in Europe.
E.ON is looking to capture more of the global LNG market as new projects come online and with Asian demand forecast to boom.
That contrasts with low profit margins in Europe, where a power glut has been met with slowing demand and high fuel import prices, especially for natural gas.
The company is also suffering from a weakening currency in Russia, its most important foreign power market, where a clash between Moscow and the West over the crisis in Ukraine has led to U.S. and European sanctions.
"We're trying to build up a flexible LNG portfolio with supplies from North America, Africa and the Middle East," E.ON board member Leonhard Birnbaum said in an interview.
"We are involved in one of the leading U.S. export projects," Birnbaum said, declining to specify which of the several projects gearing up for export over the next few years E.ON would be taking LNG from. Продолжение...