PTT of Thailand is set to import 5 million tons of liquefied natural gas in 2017, according to the company’s CEO Tevin Vongvanich.
In comparison, PTT is expected to import around 3 million tons of LNG in 2015.
Speaking at a news conference, Vongvanich noted that the company entered talks with a number of suppliers to work out long-term deals, Reuters reports. Among the suppliers are Shell and BP, and contract details are expected to be concluded in September.
Vongvanich added that Thailand is at the last phase of gas production due to the decline in domestic resources, and the company’s investment budget, which has been set at around US$1.25 billion will focus on the infrastructure like LNG terminal and gas pipelines.
Thailand’s energy minister Anantaporn Kanjanarat, was reported earlier in May as saying that PTT is aiming to invest about $28 million to increase the capacity of its Map Ta Phut LNG import terminal by 1.5 million tons of liquefied natural gas per year.
With the expansion completion expected in 2019, the terminal’s capacity would reach 11.5 mtpa of LNG.
LNG World News Staff