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PTT, Gulf Energy to build Thai LNG terminal
PROJECTS & COMPANIES
THAILAND’S state-owned PTT has teamed up with Gulf Energy Development to build a THB40.9bn ($1.33bn) liquefied natural gas (LNG) import terminal on the country’s east coast.
The project will include the design and con- struction of the port and a 5mn tonne per year LNG terminal that can be expanded to 10.8mn tpy at a later stage, Reuters quoted Gulf Energy as saying on October 1. The project is scheduled to begin commercial operations by 2025.
The project will be developed by Gulf MPT LNG Terminal, a joint venture between Gulf Energy with a 70% stake and PTT with 30%, and will be located in the Map Ta Phut Industrial Park in Rayong City.
The project is “one of five mega infrastruc- ture projects of the Eastern Economic Corridor” (EEC), which will create a “seamless trans- portation network” between Thailand and its neighbours, the newswire quoted Deputy Prime Minister Somkid Jatusripitak as saying.
Thailand approved investment in the EEC in February 2018, with the initiative designed to boost the economic development of the coun- try’s eastern provinces. The EEC, which strad- dles Chonburi, Rayong and Chachoengsao Provinces, spans 13,285 square km.
Bangkok hopes to complete the EEC by 2021, turning these provinces into a hub for techno- logical manufacturing and services. The govern- ment has said the PTT-Gulf Energy partnership
will attract investment to the industrial east. The announcement of the new terminal comes less than a month after PTT said it intended to become a regional LNG trader.
The company said on September 12 that it wanted to provide small-scale distribution through marine vessels and heavy-duty trucks as well as develop a natural gas pipeline.
The company aims to increase utilisation rates at its two existing LNG import facilities at Rayong City. The 11.5mn tpy facility in Map Ta Phut has a utilisation rate of 5mn tpy, while the 7.5mn tpy facility in Nong Fab is still under construction.
The Bangkok Post quoted PTT’s senior exec- utive vice-president for gas, Wuttikorn Stithit, as saying the company was ready to provide these services after testing the business model over the last few years.
“We are ready in terms of gas infrastructure and transport via marine vessels and heavy duty trucks, as well as manpower for LNG trade,” Wuttikorn said.™
Petronas charters LNG carrier from Avenir
PROJECTS & COMPANIES
MALAYSIA’S state-owned Petronas has char- tered a liquefied natural gas (LNG) carrier from the UK’s Avenir LNG to be used in bunkering operations offshore the Southeast Asian country.
Avenir LNG said on October 1 that the 7,500 cubic metre vessel would also be used to trans- port the fuel to small-scale terminals in the region.
Avenir and MISC will form a joint venture to manage the carrier’s commercial operations, while MISC’s wholly owned Eaglestar Shipman- agement will provide management services.
The UK firm said it would, together with Petronas LNG, offer multi-modal LNG bunker- ing solutions and provide further support for
LNG-fuelled vessels. The two companies will also collaborate on the development of selected small-scale LNG projects.
Avenir LNG CEO Andrew Pickering said: “The wider co-operation with Petronas on bun- kering and small-scale development is what we consider very strategic in opening up this new and exciting market.”
Petronas’ teaming up with Avenir comes as the state major has urged the industry to support the long-term use of LNG, given that it is cleaner burning than oil or coal.
Speaking at a recent industry event in Japan, Petronas CEO Sri Wan Zulkiflee Wan Ariffin said it was critical that industry players unite
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w w w . N E W S B A S E . c o m Week 39 02•October•2019