Saudi oil and gas giant Saudi Aramco and Thailand’s state-owned energy firm PTT want to strengthen cooperation in areas like LNG, blue and green hydrogen, and various clean energy initiatives.
Aramco and PTT want to strengthen cooperation across crude oil sourcing and the marketing of refining and petrochemical products and LNG . The two companies, therefore, have signed a memorandum of understanding (MoU) at a ceremony in Bangkok on 11 May 2022.
This took place as Aramco expands its downstream presence in Asia.
Other potential areas of collaboration include blue and green hydrogen and various clean energy initiatives.
Ibrahim Al-Buainain , Aramco vice president, said: “Today represents an important step forward as we deepen and broaden this relationship to achieve greater cooperation across a wide range of activities, from sourcing crude oil and marketing refining and petrochemical products and LNG, to exploring blue and green hydrogen and progressing other clean energy initiatives.”
Auttapol Rerkpiboon , PTT CEO, added: “Today marks a significant milestone for PTT and Aramco as we look to the future and extend our collaboration beyond conventional energy. It also reflects our ongoing commitment to security of supply as we embrace the energy transition .”
Disathat Panyarachun , PTT senior executive VP, said: “Extending our collaboration across the value chain to include emerging decarbonization initiatives is a great opportunity to strengthen our relationship and foster further business growth. This also aligns with our ‘green and clean’ strategy which aims to reduce greenhouse gas emissions.”