Gazprom Marketing & Trading Singapore (GM&TS) was officially incorporated on 19 October, 2009. In December of the same year, a commercial director from the London office headed to Singapore to explore the commercial opportunities in the region. The rest, as the phrase commonly goes, is history.
And while GM&TS’ history thus far may be short in comparison to longer established energy companies, it is one that has recorded many achievements and many firsts. A very successful business and Gazprom’s first commercial presence in Asia, has been established in the five years since that initial foray by GM&T’s London headquarters into the region.
One employee in a serviced office quickly turned into three and by the end of 2011, GM&TS had 50 employees and moved that September into permanent office premises in the heart of the island nation’s business district.
Today, we have 56 employees of 15 nationalities working together to create a strong platform for Gazprom’s presence and business in Asia. This platform now includes LNG trading and marketing, origination, LPG trading, financial risk management and shipping. In our first couple of years, we quickly built our reputation in LNG trading – securing the first ever sales of Russian gas into India and Taiwan, and being one of the first to respond to Japan’s energy crisis after the Fukushima disaster – forming strong relationships with major players in Asia’s energy markets. In 2013, we closed a 20-year SPA with GAIL and this year, signed a MSPA with Petrovietnam, the first ever LNG MSPA signed in the country.
While LNG accounts for a large part of our business, we are constantly reviewing our strategy and operations to optimise the value we create for our parent company, Gazprom. We have built an LPG portfolio, which is growing annually and now offer financial derivatives to our customers. With the capability of our commercial team and key support functions such as finance, risk and legal developed over the past few years, we are well positioned for future growth arising from Gazprom’s projects in the Far East.
For GM&TS, being the face of Gazprom in the region also extends beyond the commercial realm. For the past three years, GM&TS has organised, on behalf of Gazprom, CSR activities in music and cultural arts, supporting our parent company in organisation of social and charitable activities for cultural development, education and sport.
Such initiatives are led by Serguei Edrenkine, general director of GM&TS. He said, “We are greatly privileged to be trusted by Gazprom to lead its CSR efforts in music and cultural arts. Last year, we formalised these efforts into an annual concert series called Synergy in
Music, which encompasses a concert featuring top Russian classical musical talents and a series of masterclasses for local music students.”
A milestone birthday offers the opportunity to celebrate past accomplishments and anticipate the potential the future holds.
Medan Abdullah, a 30-year-veteran of the industry, who joined GM&TS as managing director last September said, “Even before I joined GM&TS, I knew of the organisation’s dynamism and innovativeness, sometimes having experienced it on the other side of the negotiating table. Everything that I have seen and experienced since I joined GM&TS validates my belief that as remarkable as its growth has been in the past five years, this organisation will accomplish much more in the next five, and I am proud to be able to be part of the GM&TS story for the next lap.”