Sumitomo Corp. is launching an LNG trading desk in Singapore to meet rising Asian demand, fueled by AI-driven electricity needs.

Sumitomo Corp.'s energy trading unit, Pacific Summit Energy, is exploring the creation of an LNG trading desk in Singapore to expand its global footprint, following a similar move in London. The initiative responds to rising global demand for liquefied natural gas, particularly in Asia, driven by growing electricity needs from AI infrastructure. The company is also reportedly negotiating a long-term LNG supply deal of about 1 million tons annually from U.S. projects, though Sumitomo has not confirmed the reports.