- Update
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- Format
- 4 files (PDF report, 3 Excel files)
- Pages
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35 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive Thailand energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- Thailand targets a 30% reduction in GHG emissions by 2030 from a BAU scenario, and carbon neutrality by 2050.
- The introduction of a carbon tax is planned for 2025.
- PTTEP is the main oil and gas company, with around 70% and 80%, respectively, of the country's production.
- State-owned electricity company EGAT is the largest power generator, with 45% of total capacity.
- Natural gas dominates the power mix (67% in 2023).
- Gas production dropped by 17% in 2022 as PTTEP struggles to boost production from maturing fields.
- Energy prices in Thailand are much higher than in Malaysia (over a factor 2 for gasoline and diesel and a factor 3 for households' electricity).
- Final energy consumption has remained fairly stable since 2019.
- Oil products account for over half of this consumption.
- Industry is the largest consumer with 53% of final consumption and 37% of electricity consumption.
- The new National Energy Plan will significantly increase the share of renewables at the expense of gas and coal. Around 6 GW of solar projects are planned.
- Negotiation with Cambodia for the exploration of a large oil and gas offshore field restarted.
Institutions & Energy Policy
The Ministry of Energy is responsible for energy policy development through the Energy Policy and Planning Office (EPPO). The National Energy Policy Committee (NEPC), chaired by the Prime Minister, is the decision-making body.
Energy Companies
Oil:
Petroleum Authority of Thailand (PTT) is the national oil company (63.3% public, of which 51.1% directly held by the Ministry of Finance and 12.2% through the Vayupak Fund).
Energy Supply
Oil:
The production of liquid hydrocarbons (crude oil and NGL) has been decreasing since 2016 (-6.9%/year), reaching 11.9 Mt in 2023. Previously it had increased rapidly between 2000 and 2016 (+6%/year).
Energy Prices
Oil:
Motor fuel prices are deregulated. Gasoline price has increased by around 50% since 2020 to US$1.06/l in 2023, while diesel prices rose by only 30% to US$0.92/l.
Gasoline prices in Thailand are 2.3 times higher than in Malaysia, while diesel prices are 2.2 times higher (2023). Compared to Vietnam, diesel and gasoline prices are 10% higher for both fuels (2023).
Energy Consumption
Per capita energy consumption stood at 2.1 toe in 2023, while per capita electricity consumption was 2 977 kWh.
Total energy consumption has been increasing by 2%/year since 2020, reaching 149 Mtoe in 2023. Previously, it had increased by 1.8%/year as from 2010 and dropped by 6.4% in 2020.
Issues & Prospects
Pending the official release of the National Energy Plan (NEP) which is still pending as of early 2025, the Thailand Integrated Energy Blueprint (TIEB) 2015 remains in force and defines the energy trajectory until 2036. Oil demand is expected to increase by 3.3%/year until 2036 in the BAU scenario.
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2023, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2023, %)
- GRAPH 5: Gasoline & diesel prices (US$/l)
- GRAPH 6: Electricity prices for industry and households (US$c/kWh)
- GRAPH 7: Consumption trends by energy source (Mtoe)
- GRAPH 8: Total consumption market share by energy (2023, %)
- GRAPH 9: Final consumption market share by sector (2023, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The Thailand energy market data since 1990 and up to
is included in the Excel file accompanying the Thailand country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Thailand Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Thailand energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).
The Thailand country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
- Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
- Power: Electricity generation & capacities, by technology.
- CO2: Total CO2 emissions.
- Macro-economy: Main macro-economic assumptions.
- Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.