PTT of Thailand is reportedly planning to invest about US$28 million to increase the capacity of its Map Ta Phut LNG import terminal by 1.5 million tons of the chilled fuel per year.
Thailand’s energy minister Anantaporn Kanjanarat said the terminal’s capacity would be increased to 11.5 million tons in 2019, Reuters reports.
The terminal’s capacity is currently being increased to 10 mtpa with works due for completion in 2017.
The minister added that PTT has been given the approval by the national energy policy committee to build a 5 mtpa LNG receiving terminal in Rayong province with a price tag of around $1 billion. The company will also look into the option of increasing the terminal’s capacity to 7.5 mtpa with construction to be completed in 2022, according to the report.
Close to 70 percent of Thailand’s power is being generated from natural gas, and due to a delay in construction of coal-fired power plants, the country has upped its natural gas demand estimates to 5,653 million cubic feet per day for 2015-2036, compared to a previous estimate 4,344 mcf.
Thailand’s Electricity Generating Authority of Thailand (EGAT) is also looking into the option of setting up a 5 mtpa import terminal with the study to be completed within the next three months, the report said.
LNG demand in 2016 is forecast to be between 2.7 million and 3.1 million tons per year, mostly due to the weak economy and volatile global oil prices.
LNG World News Staff