BANGKOK: Thailand’s largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas (LNG) in 2017, up from 3 million tonnes this year as local gas production fades. State-controlled PTT expects to conclude in September talks with several suppliers including Royal Dutch Shell and BP to buy LNG under long-term contracts, chief executive Tevin Vongvanich told a news conference on Thursday.
Thailand, which uses natural gas for nearly 70 percent of its power generation, has become increasingly reliant on LNG imports as its own domestic gas fields are slowly being depleted. PTT is the nation’s sole gas provider. “As domestic resources decline, we are at the last phase of gas production,” Tevin said, adding that PTT aimed to buy at least 3 million tonnes of LNG via long-term contracts, as well as making purchases in spot markets. Thailand currently has a long-term contract with Qatar for supplies of up to 2 million tonnes of LNG per year.
