PTT of Thailand could cut on buying LNG in the second half of 2015 as gas consumption is expected to be lower.
Sources told Platts that gas consumption growth was lower than the expected 5% rise which cuts on PTT’s LNG requirements. The slow growth is due to a decline in domestic power demand.
The company is assessing its market position for September after it completely abandoned LNG purchases in August.
Although the gas consumption in 2015 is expected to grow slower than expected, a significant rise in LNG imports is predicted.
The company already secured six cargoes through tenders, amounting to 370,000 tons of LNG, while it is also expected to receive 2 million tons of the chilled gas from Qatar through the 20-year supply deal it signed with Qatargas in 2012.
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LNG World News Staff; Image: Qatargas