Thai firms chase LNG deals as worldwide prices decline

Thailand’s leading energy companies are moving to lock in long-term liquefied natural gas (LNG) contracts as global prices are forecast to decline, in abid to shield consumers from volatile electricity bills.

- YUTHANA PRAIWAN

An LNG receiving terminal in Map Ta Phut, Rayong.

National oil and gas conglomerate PTT Plc, the state-owned Electricity Generating Authority of Thailand (Egat) and SET-listed Gulf Energy Development Plc are among the firms pursuing agreements that will secure LNG supplies for years to come.

Officials say the next few years will be critical as a surge in global LNG supply is expected to drive prices down.

Gas remains a key fuel for Thailand’s power generation, but domestic supply is shrinking.