PTT, Egat to invest in 2nd Thai LNG terminal
Thai state-owned entities PTT and Electricity Generating Authority of Thailand (Egat) have signed a memorandum of understanding to form a joint venture to invest in a second LNG receiving terminal project in Rayong province, Egat said on February 15.
According to local media reports, PTT has already started work on the project called LNG Map Ta Phut Terminal 2 (LMPT2). The terminal is expected to be commissioned later this year, Bangkok Post reported.
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The project cost is about 41.4bn baht ($1.28bn) and Egat is expected to contribute about half of that. LMPT2 is designed to have a capacity of 7.5mn metric tons/year, and together with the first receiving terminal, Map Ta Phut, the combined capacity will be 19mn mt/yr, the newspaper said.
Thailand has been opening up its LNG sector which has been dominated by state energy company PTT. It has awarded LNG import licences to a number of companies, including Egat. Other firms that have LNG shipping licences are Egco, B.Grimm, state-run PTT Global LNG, Egat, Gulf Energy Development, Hin Kong Power Holding and Siam Cement Group.