Thai state-run oil and gas company PTT could up its LNG trading efforts seeing the demand from China, Vietnam, and Myanmar growing.
The decline in demand from Japan, South Korea, Taiwan as well as domestically in Taiwan prompted the company to look elsewhere.
Bangkok Post quotes Tevin Vongvanich, PTT LNG’s chief executive as saying the company intends on using its capacity at the Map Ta Phut liquefied natural gas receiving terminal as its trading business base.
He added that terminal, with a handling capacity of 5 million tons, still has half of its capacity left unused. The terminal is also undergoing expansion currently with an additional 6.5 million tons of handling capacity to be added next year.
The company is also developing additional capacity, with a 7.5 mtpa LNG receiving terminal at Nong Fab currently undergoing concept design with plans to start operation in 2023. This would bring the company’s total capacity to 19 million tons.
PTT is readying the facilities as it prepares for the depletion of natural gas resources from the Gulf of Thailand and Myanmar.
Sources:lngworldnews
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