LNG

Burckhardt Compression has secured multiple contracts to supply compressor systems for LNG terminal projects in Thailand and Taiwan. The order covers eight Laby compressors for boil-off gas handling and one unit for minimum send-out service.

China has been reselling record volumes of LNG to other Asian buyers since the start of the Middle East war, diverting up to 10 cargoes in March alone – mainly to South Korea, Thailand and Japan. More re-exports are on the cards in April.

Rising LNG prices are feeding through to wholesale electricity markets. To mitigate exposure, utilities in Thailand and Vietnam are shifting from purely index‑linked LNG contracts toward structures with price caps and multi‑year tenures, covering up to 80% of their projected LNG-fired power plant needs.

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.

Thailand’s Energy Regulatory Commission (ERC) is stepping up efforts to mitigate risks posed by disrupted LNG trade flows through the Strait of Hormuz. Nearly two-thirds of Thailand’s electricity comes from gas-fired power stations which largely depend on imported LNG, making them vulnerable to supply shortages and geopolitical risk.

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.

Southeast Asia is expected to become a net LNG importer by 2032, with demand set to soar approximately 182% over the next decade. Wood Mackenzie forecasts the region’s gas demand will outpace both oil and coal, particularly in Malaysia, Thailand, the Philippines and Vietnam.

Thailand’s state-run exploration and production company PTTEP, which has stakes in Malaysian floating LNG and a Mozambican LNG project, reported almost 40 percent of growth in earnings in the first nine months due to higher natural gas output and prices.

Qatargas, the leading liquefied natural gas producer, has signed an accord to cooperate in the LNG business with the main electric power generating company of Thailand, including being a future supplier of additional volumes to the Asian nation.