PTT of Thailand informed that it has signed deals with Ratchaburi Electricity Generating to invest in LNG terminal project and power generating facilities in Myanmar.
Under the contract, PTT and Ratchaburi will look to develop the floating storage and regasification unit in Myanmar but also conduct a study on the feasibility of such an investment.
The company informed in a statement that the project would provide needed natural gas to fire up power generating facilities.
Pongdith Potchana, chief executive of Ratchaburi said the FSRU would have a 3 mtpa capacity and the investment is worth about $400 million. Ratchaburi would hold a 30 percent stake while the rest would be in hands of PTT and a domestic partner.
Earlier this month PTT’s CEO and President Pailin Chuchottaworn informed the company is looking to set up two FSRU’s and is looking to negotiate several long-term LNG supply contracts, in order to strengthen Thailand’s energy security.
Image: PTT