He also expects the LNG price to drop from early next year as demand declines after winter in Europe. A falling LNG price would cut electricity generation costs, as natural gas is used to fuel power stations. Auttapol told the “Thailand Economic Outlook 2023” seminar held by Krungthep Turakij, that PTT must strike a fine balance between ensuring sufficient oil and gas to meet demand, minimising environmental impacts, and keeping prices as low as possible. He added that PTT is focusing on maximising refinery and transport efficiency and using carbon capture storage technology to reduce environmental impacts. The energy giant is also switching its focus to cleaner energy such as natural gas as oil consumption is expected to drop over the next decade, he said.

Source: The Nation Bangkok October 04, 2022 16:06 UTC