Thailand's LNG Imports to Spike on Rising Demand

PTT Plc, Thailand's national oil conglomerate, expects liquefied natural gas imports to more than treble over the next few years as domestic demand increases.

Bangkok Post has quoted Charcrie Buranakanonda, a senior executive vice president, as saying that LNG imports will top 115 billion cubic feet of gas next year and 170 bcf in 2014, up from an estimated 50 bcf this year.

Even with the boost in LNG imports, it will be just a small slice of the country's total gas consumption. Thailand's annual gas production is expected to reach 1.75 trillion cubic feet in 2014. But rising demand for the fuel is expected to widen the gap between domestic supply and demand.

PTT launched the first phase of its $900 million LNG receiving terminal at Map Ta Phut in Rayong province last year. It has a capacity of 700 million cubic feet per day. The company has secured an LNG purchase deal for almost 100 bcf a year from Qatar Gas.