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2016-08-19 18:45:00

THAILAND'S LNG WILL UP

THAILAND'S LNG WILL UP

 

THAILAND LNG DEMAND 2015 - 2025

 

REUTERS wrote, Thailand's largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas (LNG) in 2017, up from 3 million tonnes this year as local gas production fades.

State-controlled PTT expects to conclude in September talks with several suppliers including Royal Dutch Shell and BP to buy LNG under long-term contracts, chief executive Tevin Vongvanich told a news conference on Thursday.

Thailand, which uses natural gas for nearly 70 percent of its power generation, has become increasingly reliant on LNG imports as its own domestic gas fields are slowly being depleted. PTT is the nation's sole gas provider.

"As domestic resources decline, we are at the last phase of gas production," Tevin said, adding that PTT aimed to buy at least 3 million tonnes of LNG via long-term contracts, as well as making purchases in spot markets.

Thailand currently has a long-term contract with Qatar for supplies of up to 2 million tonnes of LNG per year.

Hit by the decline in global oil prices, PTT has cut its 2016 investment budget to 43.31 billion baht ($1.25 billion) and will focus more infrastructure including LNG terminals and gas pipelines, Tevin said.

PTT is in process of doubling the intake capacity of its 5-million tonne per year LNG import terminal at Map Ta Phut in the country's east, which is expected to be completed in 2017, Tevin said.

To boost revenue from non-oil businesses, PTT is seeking partners to open budget hotels at its petrol stations in Thailand and to open more coffee outlets at facilities in neighbouring Southeast Asia, he said.

The company also plans to spend about 50-100 million baht supporting clean energy technology, chief financial officer Wirat Uanarumit said.

PTT expects to continue to make profit in the second half of the year, with lower feed gas costs supporting its core gas business, Wirat said.

Unlike the first half, PTT has no major shutdowns planned for the latter half of the year, he said.

On Monday, PTT reported a 4.8-percent rise in second quarter net profit as its strong gas business outweighed the weak performance of its petrochemical and refining businesses.

-----

Earlier:

LNG: 

AUSTRALIAN LNG UP TO 2% 

VIETNAM & JAPAN LNG 

INVERTED LNG MARKET 

QATAR LNG UP 50% 

LNG: BIG AUSTRALIA

 

THAILAND: 

THAI BUYS BRAZIL

 

 

 

Tags: THAILAND, LNG, SOUTHEAST, ASIA

Chronicle:

THAILAND'S LNG WILL UP
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

THAILAND'S LNG WILL UP
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

THAILAND'S LNG WILL UP
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

THAILAND'S LNG WILL UP
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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