8 January 2015
DETAILS
Dr. Pailin Chuchottaworn,
President & CEO of PTT Plc.,
revealed that today (8 January 2015),
at approximately 90,000 tons, according to
the Long Term Sales and Purchase Agreement
to supply LNG for 2 million tons per annum,
or approximately 280 million cubic feet per day
for the next 20 years.
The agreement, which was signed in 2012, was
PTT Group's first
Long Term Sales and Purchase Agreement for LNG.
"Thailand's demand for natural gas
is increasing every year. Natural gas
is the fuel used in the electricity generating,
industrial, petrochemical, and transportation sectors.
However, the supply of natural gas in
the Gulf of Thailand and Myanmar
is on a downward trend. Therefore,
liquid natural gas or LNG is an important alternative
in sufficiently supporting the nation's energy demand.
PTT has imported LNG since 2011
through the spot market, with
the imported volume constantly growing.
Currently, imported LNG amounts to
2 million tons per annum.
According to
the Power Development Plan for 2010 - 2030
(PDP 2010 Vol.3), it is estimated that
approximately 5 million tons of LNG will be
imported in 2015. In this regard,
is in the process of expanding
the capacity of its receiving terminal
to be able to accommodate 10 million tons per annum,
from the current capacity of 5 million tons per annum.
The expansion is expected to be completed in 2017."
entered into the first LNG sales and purchase agreement
in 2011 in the form of a spot contract.
The first LNG cargo was used to
test the system designed at
the First LNG receiving station of PTT Group and ASEAN
in Mab Ta Phut, Rayong province.
Later that year, LNG imports were used to
substitute the missing gas from the gas pipeline system
due to offshore problems.
This marked the start of good relations
between the two companies.
Qatargas is the largest LNG producer and exporter
in the world, with an annual LNG production capacity of
77 million tons per annum,
equivalent to approximately 33%
of total worldwide LNG sales.
Qatar has total natural gas reserves of approximately
900 trillion cubic feet, sufficient
to support natural gas demand
for more than 100 years.
The business alliance between
the energy security of the country,
ensuring that Thais will have sufficient energy resources
long into the future.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
