PTT almost ready to announce third LNG terminal in Thailand

Bangkok: PTT, Thailand’s national oil and gas company, will finalise plans for the location of its third gas receiving terminal in the country by the end of this year.

The Phase-3 proposal has been approved by PTT’s Board and will now be forwarded to the Energy Ministry and the National Energy Policy Council for further consideration, Pailin Chuchottaworn, PTT’s president and chief executive officer, told press last week.

PTT also plans to launch floating storage regasification units (FSRUs) in the south of Thailand and Myanmar as an interim solution to ensure energy security in Thailand’s South, Chuchottaworn said.

The new Phase-3 import terminal will have annual capacity of 5m tonnes.

Thailand has been buying LNG on the spot market, but PTT will start importing from Qatar from next year onwards.PTT signed a 20-year agreement in December 2012 with Qatar Liquefied Gas Co to purchase 2m tonnes of LNG per year. The first delivery is scheduled for January 2015.

The Thai importer is also in talks with other suppliers such as Russia and Australia for long-term LNG contracts. [24/11/14]

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