LNG

Venture Global and Thailand’s state-controlled energy giant PTT PCL are in advanced talks for binding LNG offtake, supposedly from the Plaquemines or CP2 export facilities in Louisiana. If finalized, the deal would help diversify Thailand’s LNG supply away from Middle Eastern sources.

Thailand's state energy company PTT is expanding its LNG portfolio, seeking to emulate Cheniere Energy’s flexible LNG shipping model as LNG benchmark prices have fallen to $9-10 per MMBtu, down from $12 in 2025. Analysts at Bernstein note that price-sensitive buyers like Thailand would import substantially more LNG if prices fall below $8/MMBtu.

Glenfarne, lead developer of Alaska LNG, has announced Thailand’s largest traded company PTT signed an agreement to offtake 2 mtpa of LNG from the terminal over a 20-year term. Shipments from Alaska to Asia are priced lower than Henry Hub-indexed cargoes from the U.S. Gulf Coast.

Thai utility operator, B.Grimm Power Public Company, said it signed an accord with the Provincial Electricity Authority and its subsidiary on technical and financial cooperation in and around Map Ta Phut in Rayong province, the location of the southeast Asian nation’s LNG import terminal where two expansions are planned.

Gulf Energy Development, a leading Thai power supplier to the Electricity Generating Authority of Thailand (EGAT) and private customers in the country’s main industrial zones, has been awarded government licences along with a partner company to import 1.7 million tonnes per annum of LNG.

Italian energy engineering company Saipem was awarded a joint venture contract with CTCI Corp. of Taiwan to construct Thailand’s new Nong Fab LNG import terminal, the nation’s second regasification facility.

Marubeni Corp., the Japanese trading house with stakes in liquefaction plants in Qatar, Equatorial Guinea as well as LNG shipping and trading interests, is studying the launch of large-scale LNG bunkering operations in Thailand at Laem Chabang, the nation’s largest industrial port.

Royal Dutch Shell, the world largest LNG market player, has cancelled the sale for $900 million of its 22 percent stake in the Bongkot natural gas field in Thailand and in adjoining acreage offshore the Southeast Asian nation that had been part of its restructuring and sell-off programme.

PTT Group, the state energy company of Thailand, has set up a trading unit called PTT Global LNG Co. to increase its marketing presence ahead of the construction of more import infrastructure to handle its future volumes from the Mozambique liquefaction project in southeast Africa and other possible ventures.

Feb 16 (LNGJ) - PTT, the state-run oil and gas company of Thailand, said it planned to increase LNG imports from 5 million tonnes per annum to 11.5 MTPA under the expansion plan for the Map Tha Phut terminal. PTT Chief Executive Tevin Vongvanich also confirmed that a second onshore import facility would be constructed with 7.5 MTPA of capacity to take the total capacity to 19 MTPA. “The project has been approved by the government and an environmental assessment is underway,” said Vongvanich. PTT recently agreed a 15-year contract to buy 1.2 MTPA from Malaysian energy company Petronas to add to current volumes received from Qatar and elsewhere.