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RWE opens Indian office for trade in coal, LNG and fertilisers

German utility RWE has opened an office in Mumbai to strengthen the Asian presence of its trading subsidiary RWE Supply & Trading, focusing on coal, liquefied natural gas ( LNG) and fertilisers.

The new office was officially opened last week, adding to the trading division's existing operations in Singapore and Indonesia, RWE said in a statement on Wednesday.

RWE, a leading coal-fired electricity producer in its core European markets, is also an international coal trader  with 550 million tonnes of turnover a year.

A quarter of these activities take place in the Asia-Pacific region, including delivery to coal consumers in the cement and fertiliser industries in India and Indonesia, it said.

It has recently added nitrogen fertiliser to its traded portfolio and offers fertiliser producers choices to optimise feedstock such as natural gas, coal and waste gases.

The Supply & Trading unit is expected to swing to a profit this year after   after posting at 598 million euro ($812.53 million) loss in 2012, when it was burdened by losses from long-term oil-indexed gas contracts, the group's management said last month.

Source: Reuters