Thailand's PTT Looks at Long Term LNG Deals

Thailand's state owned PTT plans to imports LNG in long term from several sources to offset decline in domestic resources, reported news agency Reuters Tuesday.

The company is looking to discuss the issue with Chevron and also wants to expand its partnership with Qatargas, a major long-term LNG supplier, PTT chief executive Pailin Chuchottaworn said in a statement released while attending the World Gas Conference in Paris this week, Reuters reported.

In 2012, PTT and Qatargas 3 inked an agreement under which the latter was to deliver two million tonnes per annum (MTA) of LNG for a period of 20 years beginning from 2015.  The agreement was PTT’s first long-term LNG agreement. The first cargo under the deal arrived in Thailand in January this year.

According to Reuters, the company has so far not revealed the names of the firms with which it is talks for LNG supplies, except for Anadarko Petroleum Corp, an operator of a Mozambique gas field in which PTT's unit has a stake.

Gas supplies from Myanmar, a major supplier to Thailand, is expected to fall as due to rising usage in domestic market.

To secure short term supply, PTT is looking to form partnerships with France's Total and Shell about possibilities to buy LNG from the spot market.