Thai PTT Plans to Import 3 Mn T of LNG from Spot Market This Year

Thai state owned firm PTT has plans to import 3 million tons of LNG from the spot market this year due to a drop in prices, news agency Reuters reported Wednesday.

PTT wants to import in total 5 million tons of LNG to help its receiving terminal run fully, PTT Chief Executive Pailin Chuchottaworn told reporters, the news agency reported.

According to Reuters, Chuchottaworn said that LNG prices have dropped to $6.8 a tons from about $16 a year ago, making it cheaper than gas imports from neighbouring Myanmar.

PTT has a 20-year contract to buy 2 million tons of LNG a year from Qatar, starting from this year. The amount accounts for only 6 percent of total consumption.