(Photo: PTT Plc)SINGAPORE: Thailand’s capacity to convert liquefied natural gas (LNG) will nearly double by the end of the decade as imports are set to rise to replace declining domestic natural gas production, a senior executive of PTT Plc said on Tuesday. Costly LNG imports have been a major factor behind the high cost of electricity, something the new Pheu Thai-led government has pledged to address as quickly as possible. ML Peekthong expects LNG imports to fall to “a more manageable level” at the end of this year or in the first quarter of next year as domestic gas production recovers. However, natural gas production is set to decline in the long run which will require more imports, said ML Peekthong. PTT is also looking to diversify LNG imports and reduce pricing risks by buying from different locations and using a variety of benchmarks, he added.

Source: Bangkok Post September 05, 2023 18:02 UTC