PTT expands LNG terminal to create energy security in the long run
Mr. Chansin Treenuchagron, President & Chief Executive Officer, PTT Public Company Limited (PTT), presided over the Foundation Stone Laying Ceremony, on the construction of the jetty and receiving stations for the Nong Fab Liquefied Natural Gas or LNG Receiving Terminal by PTT LNG Company Limited (PTTLNG) to support LNG import of 7.5 million tons per year. It is expected to be completed and ready to operate by the year 2022.
Mr. Chansin said that, the jetty and receiving station of Nong Fab liquefied natural gas station project was established according to the resolution of the National Energy Policy Committee (NEPC) on 30th May 2016, to expand the capacity to import LNG from 10 million tons per year to 17.5 million tons per year. This expansion responds to the current situation in which the amount of Thai energy reserves is continuously decreasing while importing natural gas from neighboring countries has limitation. Thus, contrast to the higher demand in both electrical sector, industrial, and transportation sector.
Mr. Wirat Uanarumit, Chairman of the Board, PTT LNG Company Limited said that the jetty and receiving station for liquefied natural gas at Ban Nong Fab, Maptaphut Subdistrict, Rayong Province which situated on an area of 182 rai. There is an establishment of agreement with transparent procurement process where participants can observe each and every steps. This is considered an important since LNG is considered to be one of the country's main energysource. PTT has imported LNG since 2011 through trading of the contract in the spot market format and has continuously increase imports of LNG ever since. Currently, PTT has 4 long term LNG contracts totaling of 5.2 million tons per year to provide energy security and sufficient energy usage for the country in the long run.