Thailand's PTT is looking for new LNG sources such as Oman and Canada.
PTT, Thailand's largest gas company, is seeking new sources of?liquefied, natural gas, such as Oman and North America, as well as West Africa, to diversify their portfolio in the face of a?geopolitical upheaval.
In Southeast Asia, the?largest?LNG importer relies on spot supply to meet half of its demand. Thailand increased its imports of US LNG this year, after the Iran War closed the Strait?Hormuz, which was Qatar's largest supplier.
Bandhit Thamprajamchit is the chief operating officer for PTT's upstream oil and gas business. On the sidelines the Gastech Conference.
He said that Mexico and Canada were also being investigated, while also mentioning West Africa, other Middle East countries, and Oman, which is located outside of the Strait of Hormuz.
Bandhit said that PTT is looking to secure LNG supplies with high certainty in the near future to ensure energy security.
Kpler data showed that Oman's LNG exported reached a record high of 1,167 million metric tonnes in August. Last year, Oman exported?11.521 millions tons of LNG.
Bandhit said the state-owned company is looking to collaborate with partners to?purchase or load goods jointly to reduce costs.
He declined to identify the partners.
PTT will increase its LNG import capability to 27 million tons (tpy), from 19 million tpy, in the next three years.
Bandhit stated that the?company's goal was to increase LNG demand by 10,000,000 tpy in 2030, and by another 15,000,000 tpy in 2035.
(source: Reuters)
