A draft agreement for a long-term LNG supply between PTT and Malyasia’s Petronas has been approved by the Thailand’s energy policy committee on Thursday.
According to the a statement released by the Thai government, PTT agreed to buy 1 million tons of LNG from Petronas in 2017 and 2018. From 2019 onwards the company will be buying 1.2 million tons of LNG per year from Petronas. The total duration of the agreement is 15 years, the statement reads.
The agreement is now awaiting approval of the Cabinet and will be reviewed by the office of the Attorney General.
The committee has additionally approved Thailand’s import plan to up LNG imports in the next 20 year. According to the revised plan, Thailand targets importing 17.4 million tons of LNG in 2020, with the volumes reaching 34 million tons by 2036, up by 5 mtpa from the previous target of 31 million tons.
LNG World News Staff