(PTTEP Plc photo)PTTEP, the exploration and production arm of Thailand's oil and gas giant PTT Group, said on Thursday it had taken a US$500-million (16.7-billion-baht) stake in a liquefied natural gas (LNG) project with Malaysia's Petronas. It said a joint venture with its parent company -- PTT Global LNG Company -- had bought a 10% stake in liquefaction plant MLNG Train 9 in Malaysia. "Investment with a leading company, Petronas, would support the LNG business of the company in expanding our operations in Malaysia in the future," PTTEP said in a statement. PTTEP said it was awaiting the results of "a few" bid proposals submitted for projects in the final stages of development or close to production, mainly in Southeast Asia. PTTEP will also participate in the bidding process for the Bongkot and Erawan gas fields in the Gulf of Thailand in the first quarter of 2018, it said.

Source: Bangkok Post July 27, 2017 09:10 UTC