B.Grimm and PTT team up for Thailand LNG expansion
Bangkok-based power company B.Grimm Power has formed a joint venture with the state-owned energy company PTT Global LNG to expand the LNG value chain.
B.Grimm Power formed a joint venture with PTT to operate an LNG sourcing and trading business. To be precise, PTT bought 250,000 ordinary shares of B.Grimm Power LNG joint venture.
B.Grimm Power LNG joint venture deals with procurement and trading of liquefied natural gas (LNG). The shareholding structure is B.Grimm Power holding 50 per cent and PTT Global LNG holding 50 per cent.
The goal is to procure and sell LNG and also to look for other business opportunities in the LNG value chain. This includes both domestic and international opportunities.
To remind, B.Grimm Power won a permit to import LNG into Thailand last year. The Energy Regulatory Commission approved the company to import 650,000 tonnes per year of LNG.