Thailand Gas Consumption to Rise This Year

Thailand is likely to use more natural gas this year with a projected 5 billion cubic feet nationwide a day, Bernama reported citing Thai News Agency.

Songphob Polchan, director-general of the Ministry of Energy’s Department of Mineral Fuels, said domestic consumption is expected to see a year-on-year growth of 10%. On the supply side gas fields in Gulf of Thailand are expected to yield 3.8 billion cubic feet and Maynamar is likely to supply another 1.2 billion cubic feet, the report said.

To maintain the supply of natural gas in the Gulf of Thailand, Songphob said the ministry will amend laws to allow the extension of concessional periods in the Gulf for firms such as PTT Exploration and Production Public Co. Ltd., (PTTEP), a subsidiary of the nation’s largest petroleum firm PTT Public Co. Ltd., (PTT), and US-based Chevron Corporation.

The ministry will also increase imports of liquefied natural gas (LNG) from 5 million tonnes to 10 million tonnes annually to prevent insufficient domestic gas supply after 2018.