Page 10 - GLNG Week 04 2021

GLNG ASIA GLNG

PTT reviews COVID-19’s impact

on Thai LNG demand

PERFORMANCE STATE-OWNED Thai major PTT has said it is because price fluctuations remain high,” The
monitoring how the country’s latest outbreak Bangkok Post quoted Wuttikorn as saying.
of coronavirus (COVID-19) infections will Although prices have soared from record
affect domestic demand for liquefied natural gas lows to record highs in a matter of months,
(LNG). Wuttikorn said domestic gas consumers were
The senior executive vice-president for PTT’s unlikely to feel the pinch owing to the fact that
gas business, Wuttikorn Stithit, said on January 70% of the country’s LNG imports were arranged
27 that the company would have to review its under long-term contracts.
growth projections for this year as the country The executive noted that in addition to
grapples with a new wave of infections. reviewing domestic demand levels the company
The state major had previously forecast that was also looking to revive its plans to become a
domestic LNG demand would climb by 3-4% re-export hub for the frozen fuel.
year on year in 2021 from the 4,700mn cubic feet PTT wants to resume its trading trial after
(133mn cubic metres) per day recorded in 2020, the project was suspended in the third quarter of
a number that was itself down 8% y/y. 2020 owing to the country’s extension of state of
While Thailand’s response to the pandemic emergency measures.
has been one of the most successful, the country “Not only did the lockdown halt project
has experienced a resurgence in daily case num- development, but the delay also came about from
bers since the latest wave began on December decreasing demand for LNG in the third quarter
15. Local authorities reported a record number last year,” Wuttikorn said.
of daily infections on January 26, with the count PTT intends to import LNG for re-export as
reaching 959 new cases. part of a trial overseen by the Energy Regulatory
“New estimates for gas demand will be car- Commission in order to avoid breaking a law
ried out soon, but the calculation is quite difficult that prohibits gas exports.™

EUROPE

Bulgartransgaz completes acquisition

of stake in Greek LNG terminal

INVESTMENT BULGARIA’S state-owned gas network oper-
ator Bulgartransgaz said on January 28 that it
had completed the acquisition of a 20% stake
in Gastrade, the company developing a floating
LNG terminal off Greece’s northern coastal city
of Alexandroupolis.
The acquisition was announced in August
2020 as part of Bulgaria’s long-term energy strat-
egy to diversify its gas supply sources and routes.
It was now completed following approval by the Bulgaria currently serves as a transit route for
Bulgarian competition protection body. Russian gas, but it has the potential to become a
“The project contributes to the implementa- major trading centre thanks to a raft of new gas
tion of the Balkan gas hub concept, which envis- transport projects. A pipeline from Greece is due
ages, through construction and development of to start operations next year, allowing Bulgaria
the necessary gas transmission infrastructure, to receive gas from Greek LNG terminals. It
to link the natural gas markets in the countries will also be able to tap supplies from Azerbaijan
in Central and Eastern Europe,” Bulgartransgaz once the Trans-Adriatic Pipeline (TAP) running
said in a press release. through Greece and Albania to Italy is finished.
The LNG terminal in Alexandroupolis Bulgaria is also helping Russia extend the Turk-
should become operational at the beginning of Stream pipeline through its territory and on to
2023. Central Europe.™

P10 www. NEWSBASE .com Week 04 29•January•2021