PTT, Qatargas sign long-term deal

LNG terminal in Map Ta Phut, southeastern Thailand

Thailand’s oil and gas giant PTT Plc has signed an agreement with Qatar Liquefied Gas Ltd, or Qatargas, to buy liquefied natural gas (LNG) over 20 years at an annual volume of 2 million tonnes, with the first delivery set for January 2015, both companies announced on December 12. The agreement marks PTT’s first long-term LNG purchasing agreement.

According to PTT president and CEO Pailin Chuchottaworn, the deal willhelp ensure long-term national energy security.

“Production from the Gulf of Thailand and imports from neighbouring countries are inadequate, yet domestic gas demand keeps climbing due to economic growth,” he said.

In 2011, Qatargas delivered the first commissioning cargo to Map Ta Phut LNG terminal, Thailand’s first and only LNG receiving terminal. Since then, Qatargas has sold several spot cargoes to PTT.

Qatargas said it sees Thailand as an evolving LNG market and recognises its potential within Southeast Asia to absorb significant quantities of LNG in the future.

Thailand’s gas demand under the third revision of the Power Development Plan between 2010-2013 looks set to grow across the board in the power, industrial, petrochemical and transport sectors. This would require Thailand to import more LNG in the future and to expand the LNG receiving terminal’s capacity from 5 to 10 million tonnes a year, which is now planned for completion in 2017.



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[caption id="attachment_5851" align="alignleft" width="285"] LNG terminal in Map Ta Phut, southeastern Thailand[/caption] Thailand's oil and gas giant PTT Plc has signed an agreement with Qatar Liquefied Gas Ltd, or Qatargas, to buy liquefied natural gas (LNG) over 20 years at an annual volume of 2 million tonnes, with the first delivery set for January 2015, both companies announced on December 12. The agreement marks PTT’s first long-term LNG purchasing agreement. According to PTT president and CEO Pailin Chuchottaworn, the deal willhelp ensure long-term national energy security. "Production from the Gulf of Thailand and imports from neighbouring countries are inadequate, yet domestic...

LNG terminal in Map Ta Phut, southeastern Thailand

Thailand’s oil and gas giant PTT Plc has signed an agreement with Qatar Liquefied Gas Ltd, or Qatargas, to buy liquefied natural gas (LNG) over 20 years at an annual volume of 2 million tonnes, with the first delivery set for January 2015, both companies announced on December 12. The agreement marks PTT’s first long-term LNG purchasing agreement.

According to PTT president and CEO Pailin Chuchottaworn, the deal willhelp ensure long-term national energy security.

“Production from the Gulf of Thailand and imports from neighbouring countries are inadequate, yet domestic gas demand keeps climbing due to economic growth,” he said.

In 2011, Qatargas delivered the first commissioning cargo to Map Ta Phut LNG terminal, Thailand’s first and only LNG receiving terminal. Since then, Qatargas has sold several spot cargoes to PTT.

Qatargas said it sees Thailand as an evolving LNG market and recognises its potential within Southeast Asia to absorb significant quantities of LNG in the future.

Thailand’s gas demand under the third revision of the Power Development Plan between 2010-2013 looks set to grow across the board in the power, industrial, petrochemical and transport sectors. This would require Thailand to import more LNG in the future and to expand the LNG receiving terminal’s capacity from 5 to 10 million tonnes a year, which is now planned for completion in 2017.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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