PTT to buy LNG spot cargoes

State-owned PTT Plc plans to buy up to four liquefied natural gas spot cargoes for delivery in June and July, according to a company official.

PTT will call for tenders for the shipments in the next two weeks, according to the official who asked not to be named because he is not authorised to speak to the media.

PTT's price target for the cargoes is US$14 (406 baht) per million British thermal units. The company needs to buy about two million metric tonnes of spot LNG in 2013 to meet power-sector demand, he said.

Thailand and Singapore are Southeast Asia's only LNG importers. PTT owns and operates the five million-ton-a-year Map Ta Phut terminal in Rayong that began operating in the third quarter of 2011. It signed its first long-term contract with Qatargas in December 2012 for two million tonnes of LNG annually for 20 years starting in 2015.

Related search: energy, lng, thailand, ptt, spot cargo

About the author

Writer: Bloomberg