Thailand's state-owned oil and gas company PTT has confirmed plans to more than double its existing LNG regasification capacity in Thailand and is eyeing LNG development abroad to secure its gas supply.
PTT, which operates the sole LNG terminal in Thailand, the 5 Mt/year Map Ta Phut terminal, is currently doubling its capacity to 10 Mt/year (expected in 2017) and will add a third phase of 1.5 Mt/year in 2019. The group is also developing a 7.5 Mt/year LNG import terminal in Rayong, due to start operation in 2023. This would nearly quadruple the regasification capacity in Thailand, from the current level of 5 Mt/year to 19 Mt/year in 2023.
PTT has recently signed a 15-year LNG supply contract (1.2 Mt/year) with Malaysian oil and gas company Petronas, on top of existing LNG supply agreements with BP, Shell and Qatargas. The Thai company is also seeking new long-term suppliers in Australia, North America and Africa; its E&P subsidiary PTTEP holds an 8.5% stake in the Rovuma Offshore Area 1 project in Mozambique, where a 12 Mt/year LNG production plant is under consideration.