Thai PTT to Aggressively Expand LNG Import Capacity

Thai PTT is looking to expand the capacity of its only LNG import terminal from 5mn mt/yr to 11.5mn mt/yr and also plans to build a 7.5mn mt/yr second terminal, CEO Tevin Vongvanich told The Nikkei February 8. Thailand has been forced to look for imported gas as local supplies have started falling while domestic demand is growing.

The project has been approved by the government, and an environmental assessment is underway. "We aim to break ground in three years and bring it online in 2023," Tevin said.

December 29 PTT signed a 20-year LNG deal with BP. In addition to long term contracts, PTT will actively looking to sign spot contracts. Tevin said the company would use all 19mn mt/yr of PTT's planned capacity in 2030.

On the Mozambican LNG project in which PTT has a stake, he said "LNG is a buyer's market right now but we'll make every effort to make [the project] happen along with the other operators." The Thai firm has an 8.5% interest in the Rovuma Offshore Area 1 project in Mozambique.

Shardul Sharma