Thailand Regasification Capacity to Nearly Double by 2030 - PTT

Florence Tan
Wednesday, September 6, 2023

Thailand's annual gas regasification capacity will nearly double by the end of the decade as liquefied natural gas (LNG) imports are set to rise to replace declining domestic production, a senior executive at energy company PTT said on Tuesday. 

The country's LNG imports hit a record high this year as gas supply from the Gulf of Thailand fell during the handover of the fields' concessions between Chevron and PTTEP M.L. Peekthong Thongyai, senior vice president for PTT's gas business unit, said at the Gastech conference. 

State-controlled PTT is Thailand's largest energy company. The country's gas consumption stood close to 4.8 billion cubic feet (136 million cubic meters) per day with LNG imports meeting just over a third of its demand, Peekthong added. 

He expects LNG imports to fall to "a more manageable level" at the end of this year or first quarter of next year as domestic gas production could recover. However, gas production is set to decline in the long run which will require more imports. 

Thailand's regasification capacity is set to rise to about 30 million metric tons by the end of the decade, up from 19 million tons currently, Peekthong said. PTT is looking to diversify LNG imports and reduce pricing risks by buying from different locations and using a variety of benchmarks, he added.

(Reuters - Reporting by Florence Tan and Chen Aizhu; Editing by Christian Schmollinger and Emelia Sithole-Matarise)

Categories: Energy LNG Activity Asia Gas

Related Stories

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

Yinson Production Nets DNV Approval for New FPSO Hull Design

Petronas to Leverage AI to Expedite Oil and Gas Exploration Activities

Hanwha Ocean Enlists ABB for Singapore’s First Floating LNG Terminal

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com