Thai state-run oil and gas company PTT is reportedly setting up a liquefied natural gas (LNG) trading desk in Singapore.
Citing sources familiar with the matter, Reuters reports the company is looking to hire one LNG trader and additional operational staff.
The company has already hired Daisuke Matsuoka, who worked with Itochu Petroleum, Shell and BG Group previously, to join the office that is set to open next month.
Matsuoka will be in charge of the LNG trading activities as well as sourcing the supplies.
PTT heavily depends on the natural gas for power production however the supply is lagging behind the demand which pushed the country to look at boosting its LNG imports.
Over the coming five years Thailand is expected to boost its imports to above 10 million tons of LNG per year as the domestic supply declines.
LNG World News Staff