Thailand's PTT to Invest $10 bn During 2015-2019

Thailand’s biggest energy firm PTT on Friday said it plans to invest approximately 327 billion baht ($10 billion) during 2015-2019, with half of that fund going into the natural gas business.

In a statement published on its website, PTT said that it would invest about 85.5 billion baht in 2015 and 38.1 billion baht in 2016. Investment in the gas business in 2015 would be about 35 billion baht and in 2016 that figure is expected to be about 20 billion baht.

The Thai company also said on Friday that it would terminate the FLNG project of PTT FLNG Limited (PTT FLNG) and deregister PTT FLNG by end of next year.

“The termination of the FLNG project and the deregistration of PTT FLNG are to comply with PTT Group policy and investment strategy as well as to reduce operating expenses,” the company said.

Established in 2010, PTT FLNG is a joint venture between PTT International (Singapore) Pte. Ltd. and PTTEP FLNG Holding Company Limited.