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

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

TMC Books Compressors Orders for FPSO and LNG Vessels

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Woodside Inks Long-Term LNG Supply Deal with China Resources

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Current News

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

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