PTT signs 20yr LNG deal with Qatar
- Published: 13 Dec 2012 at 12.53
- Online news:
PTT Plc has signed an agreement with Qatar Liquefied Gas Ltd (Qatargas) to buy liquefied natural gas (LNG) over 20 years at an annual volume of 2 million tonnes, with the first delivery set for January 2015.
PTT president and CEO Pailin Chuchottaworn said in an issued statement this is Thailand's first long-term LNG contract. It will help ensure long-term national energy security. Production from the Gulf of Thailand and imports from neighbouring countries are inadequate, yet domestic gas demand keeps climbing due to economic growth.
Qatargas and PTT have maintained cordial relations since mid-2011, when it supplied the first commissioning LNG cargo for Asean's inaugural receiving terminal, in Map Ta Phut Industrial Estate in Rayong, Mr Pailin said in the statement.
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