Thailand Keen to Acquire Gas Assets in Canada

Thailand’s PTTEP is keen to acquire natural gas assets in Western Canada's resource-rich energy sector, The Canadian Press reported.

Western Canada oil and gas assets have attracted interest from Asian countries like China, Japan and South Korea in recent year. Thailand too is now moving into the region.

PTTEP had in November 2010 purchased Alberta's oilsands when it spent $2.3 billion for a 40-per-cent stake in the Kai Kos Dehseh (KKD) oilsands project, an undeveloped holding of Norway-based Statoil.

The Thai energy major  also shared its ambitions for Canada's gas sector during a presentation to four Conservative MPs who visited Thailand in January, the report said.

China is the leading investor in Alberta's oilsands. Its state-owned enterprises have invested $5 billion in 2011 alone in Canada's resource sector.