Thai energy firms are studying the feasibility of developing a liquefied natural gas receiving terminal in Myanmar as part of Thailand's plan to secure energy for the future, says an energy firm executive.
The senior executive, who asked not to be named, said a number of energy companies were looking at building an LNG receiving terminal in Myanmar.
That country is preparing for an increase in electricity demand.
Thailand's largest private power producer Ratchaburi Electricity Generating Holding Plc, PTT Plc and the state-owned Electricity Generating Authority of Thailand are conducting their own, separate studies.
"They may join hands or do it on their own. We have to wait for the results of the studies," said the source.
"Myanmar has acknowledged their energy resources are declining and new resource exploration cannot keep up with demand, so investing in a receiving terminal there makes sense."
The idea came from Thailand, as the country still has not found an appropriate location for a new receiving terminal.
PTT plans to develop another phase of its terminal, but the Map Ta Phut area is fully occupied by an industrial complex and two phases of its LNG receiving terminal.
Thailand's largest energy conglomerate PTT Plc invested in the first LNG terminal in 2010 at Map Ta Phut in Rayong province.
The country's major deep-sea port there has a maximum natural gas capacity of 5 million tonnes of storage per year.
The first phase of the terminal started in November 2011.
It is developing a second phase at a cost of 21 billion baht with a goal to start operations in 2017 with an annual capacity of 5 million tonnes.
In 2012, PTT imported 1 million tonnes of LNG to serve domestic demand.
Last year the company used 28% of total capacity, with 1.4 million tonnes of LNG imports recorded.
This year the first phase's utilisation is expected to increase to 40%, a total of 2 million tonnes.
PTT shares closed yesterday on the Stock Exchange of Thailand at 366 baht, up six baht, in heavy trade worth 3.26 billion baht.