PTT eyes 3 million tonnes of spot LNG in 2015

PTT LNG eyes 3 million tonnes of spot LNG in 2015

lngwn

PTT of Thailand could import 3 million tonnes of LNG from the spot market during 2015 due to lower prices. 

PTT’s Chief Executive Pailin Chuchottaworn said this is part of the company’s plan to import 5 million tonnes to up the use of its receiving terminal, reports Reuters.

Pailin added that a decline in domestic gas supplies could force the company to raise its LNG imports. Thailand produces close to 70 percent of its electricity using natural gas and PTT’s deal with Qatargas to import 2 million tonnes per year cover about 6 percent of the country’s total consumption.

According to PTT, it is expected that Thailand’s gas consumption will grow by 3.1 percent a year on average from 2015 to 2019.