The PTT CEO added that Thailand’s energy reserves are fast dwindling, while the sourcing of new indigenous gas fields is proving more and more difficult, as limitations grow for gas imports from neighboring countries. In contrast, domestic energy demand is on the rise in the power, industrial, and transport sectors. Notably during the power production plan for 2012-2014 (the Power Development Plan, third revision), coal power plants and nuclear power plants are to lower their capacities, to be powered instead by natural gas. This has turned LNG into Thailand’s key alternative-energy option, which is set to grow in dominance in future years. To this end, PTT Group has made moves to accommodate the supply and import of LNG, which will definitely keep growing. Cited among these moves were a 20-year LNG sales agreement covering 2 million tons a year with Qatar Liquefied Gas Company (Qatargas), construction of the Phase 2 LNG receiving terminal to grow the capacity of storage and gasification from 5 million to 10 million tons a year, a feasibility study on Floating LNG investment, and a joint-venture in petroleum exploration and production in 12 countries.
“Participation in GASTECH 2014 represents an excellent forum for commercial and technological information sharing that could make a name for Thailand. An energy company group with world-class competitiveness, PTT Group welcomes collaboration with gas industry operators worldwide. This is a fine opportunity for the group to capitalize on the wealth of data to enhance Thailand’s energy security,” the PTT CEO added.