State-controlled oil and gas firm, PTT Public Company Limited has announced plans to invest THB850.6 billion (USD28.3 billion) across all its operations over the next five years to develop Thailand’s LNG and natural gas industry.
The planned capital expenditure (capex) includes construction of a new Nong Fab LNG receiving terminal in Rayong, the Phase III expansion of the Mab Ta Phut terminal, construction of a gas separation unit at the Mab Ta Phut industrial estate in Rayong and a natural gas transmission pipeline project.
The investment will also be used to expand PTT’s LNG value chain in the domestic and international markets, develop its gas-to-power business and electricity value chain, and for renewable energy efforts to reduce greenhouse gas emissions.
PTT aims to expand its renewable energy portfolio from 200 MW as of November 2020 to 4.3 GW by 2025. The company also aims to achieve its long-term goal of expanding its renewable energy portfolio to 8 GW by 2030