Thailand’s oil and gas conglomerate PTT Plc is seeking to sign long-term supply contracts for LNG in order to meet a significant increase in domestic demand. According to officials of the company, the long-term contract suppliers will include its upstream petroleum subsidiary – PTTEP – and other LNG traders. At present, PTT is conducting talks regarding the possibility of forming JVs with several LNG traders in the US, Australia, and Africa. Further, the company is developing the second phase of an LNG terminal with an annual capacity of 5 mt at Map Ta Phut in Rayong. The terminal, scheduled to commence operations in 2017, is being built at a cost of 21 billion baht. In November 2011, PTT commenced the first phase of the LNG terminal that has a storage capacity of 5 mt in Map Ta Phut, Rayong. The company imported 1 mt of LNG in 2012.
