The energy policy committee of Thailand has approved a 15-year LNG import contract signed by state-owned oil and gas company PTT with Malaysia's LNG producer Petronas. Under the terms of the agreement, PTT will import 1 Mt/year (1.35 bcm/year) of Malaysian LNG in 2017 and 2019; deliveries will rise to 1.2 Mt/year (1.6 bcm/year) as of 2019 and until the end of the contract (2032). The agreement will be submitted for approval to the Cabinet.
The committee has also approved a new LNG import plan for the next 20 years, to meet increasing gas demand in a context of delays in the construction of coal-fired power plants. Thailand now plans to import 14.4 Mt of LNG in 2022 and up to 34 Mt by 2036.
Thailand has a 5 Mt/year LNG import terminal in Map Ta Phut, which was commissioned in 2011; the terminal is being expanded to reach 10 Mt/year in 2017 (third phase of 1.5 Mt/year expected in 2019) and two other regasification projects are planned in Rayong and in the Gulf of Thailand. PTT already imports LNG from Qatar (2 Mt/year) and will sign long-term contracts with BP and Shell for 1 Mt/year each by the end of 2016.