PTTEP refused to renegotiate natural gas import deal with Myanmar

Thailand’s state-owned upstream oil and gas company PTTEP Public Limited Company has refused to renegotiate its natural gas import deal with Myanmar. TheMyanmar energy ministry had requested for a 20 per cent reduction in the amount of gas it is obligated to export toThailand. Based on the contract signed by the two sides,Myanmar currently exports 28.32 millino cubic metres (MMcm) of natural gas per day toThailand. TheMyanmar authority had sought to retain about 5.66 MMcm to address the power shortages in its country. The Myanmar–Thailand gas supply agreement reportedly contains a buy-back option that allows Myanmarto purchase 20–25 per cent of the gas at local prices for domestic use; however,Thailand has refuted these claims.