Page 10 - AsiaElec Week 04 2021

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PTT reviews COVID-19’s impact

on Thai LNG demand

THAILAND 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. ™

TITLE MIDDLE (WITHOUT NUMBER)

POLICY O’Regan, Minister of Natural Resources of significant momentum around the world,
Canada; Arifin Tasrif, Minister of Energy and and it is essential to their success that they be
Danish PMG to head Mineral Resources of Indonesia; Rocío Nahle inclusive and centred around people,” said
Dr Birol. “Many countries are now focusing
García, Secretary of Energy of Mexico; and
global energy transition Sophie Gladima, Minister of Petroleum and on this issue and seeking opportunities to
exchange ideas and advice. The high-level
Energy of Senegal. The full list of members to
commission date is available below. The commission will members of our Global Commission on
provide key recommendations based on its
People-Centred Clean Energy Transitions will
Danish Prime Minister Mette Frederiksen is work ahead of COP26 in November. lead a global dialogue to share experiences
to head a new high-level global commission As countries seek to advance their shifts and enhance best practice.”
that will examine ways to ensure people are at to clean energy technologies, the success of “Denmark has already shown clear global
the centre of clean energy transitions around these efforts will rest on enabling citizens to leadership on this issue, and that is why I am
the world. benefit from the opportunities and navigate delighted and honoured that Prime Minister
The new initiative – Our Inclusive Energy the disruptions. This includes social and Frederiksen has agreed to be the Honorary
Future: The Global Commission on People- economic impacts on individuals and Patron of the Commission and that Minister
Centred Clean Energy Transitions – was communities, as well as issues of affordability Jørgensen has agreed to chair it,” Dr Birol
convened by Dr Fatih Birol, the International and fairness. added.
Energy Agency’s Executive Director, and The new commission will explore these “I am very pleased to see that the IEA,
will be chaired by Dan Jørgensen, Denmark’s questions in depth, taking into account the under the leadership of Dr Fatih Birol,
Minister of Climate, Energy and Utilities. need to see people as active participants has been strengthening its focus on green
Prime Minister Frederiksen will be the in clean energy transitions – in collective energy transition and now on just transition.
honorary patron. decision-making and through individual Therefore, I am proud to lead the work in this
The commission’s members will include actions and behaviours. Equity and inclusion new global commission and thereby help to
Prime Minister Mark Phillips of Guyana; issues will also be examined, including gender ensure a just transition to more renewable
Teresa Ribera, Vice President and Minister equality. energy around the world. International
for the Ecological Transition of Spain; Seamus “Clean energy transitions are gaining collaboration as well as social fairness is at

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